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Best Buy (BBY) Is Losing Ground On Weak Forecast

Best Buy (BBY) reported first quarter adjusted EPS of $0.82 Thursday morning, which topped the consensus estimate of $0.74. The company expects to report second quarter adjusted EPS of $0.77 to $0.82 and full year adjusted EPS of $4.80 to $5.00. Street expectations are for EPS of $0.82 and $4.97.

Best Buy gapped open sharply lower Thursday morning and is now down 3.89 at $72.05 on above average volume. The stock has fallen to a 1-month low.

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