Best buy, williamssonoma, earnings surprises to the upside. Omnicare gets taken out by cvs 98 a share. The ceo of Lumber Liquidators resigns. Salesforce up on good oldfashioned earnings. Hear what they told jim about the quarter and competitors. Best buy up sharply after beating the street with its First Quarter results. Its domestic business was stronger than expected, driven by demand for smart phones. Large screen televisions, major appliances. Williamssonoma exceeding forecast in q1, comps up 4. 6. Confident we are executing against the right investment strategy. I sense there is progress but more work to do. This is incredible. They quoted in the release strengthening in our domestic business versus previous outlook. The daytoday inconsistencies, lowes did not see that. Home depot did see that. The categories best buy is doing well in are catries others are faltering in. I wonder whether the culture changed enough that they are simply doing better. They are selling more product. C
For allegedly opening up customer accounts without consent, forging signatures. I mean is your identity safe anywhere . Well look at that story coming up a little bit. The rally continues on wall street today. I mean in this you know after we saw what happened, bill, with the fed, the 300point move we had after the fed decision to taper, you know the aftermath still remains pretty solid. Were adding another 70 points on that index today. The dow was 97 at its peak today, light volume. As we always say, can you make money light or heavy volume, or lose money at the same time. It still reveals a bias. The bias appears to buy the index. The s p 500 adding almost ten points at this hour. The nasdaq strongest performer of the day. Take a look at some components of facebook in particular as its added to the s p 500. Up better than 5 . That index again, sitting about 1827. Lets talk to our Closing Bell Exchange gang joe tanney dick from Rmb Capital Management joe duran, hes also by the way, t
Will talk more about that in a moment. Another tough overnight session for global losses in tokyo and india. The road map begins with the retailers rallying best buy, home depot, urban, and they all beat handily expectations, but slightly different than penny. Missing expectations, but trading up as the investors conclude that it could have been worse and appears to be better for eli musk and tesla. After the retailer posts better than stronger earnings and mobile phones and appliances were the strong components of the quarter while gaming is weak. This stock is at a 2 1 2year high today, jim. It is up 2x for the year and a lot of discussion about huber joe l jolie, and if they have found the answer to amazon. Well, that is very good and the gaming is the going to be good in the Fourth Quarter and we have new iterations, and i like gme. This is a remarkable turn, and sometimes you have to say remarkable. Some people have gotten it right. Joey has gotten it right, and shows you how poor