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Best Buy Co. (BBY) Pulled Back After Q4 Report

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Best Buy Co. (BBY: Quote) reported fourth quarter adjusted earnings from continuing operations of $2.47 per share Thursday morning, compared to $1.98 per share in the prior year. The consensus estimate was for EPS of $2.16. Full year 2013 adjusted EPS is expected to be between $3.50 and $3.80, compared to the consensus estimate of $3.70.

Best Buy gapped open lower Thursday and fell in early trade, before settling into a range. The stock closed down by 1.85 at $24.77 on the highest volume in over 3 months. Best Buy fell to a 2-week low and dropped below both its 50 and 200-day moving averages.

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by RTT Staff Writer

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