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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (40246)	9/17/2003 11:55:41 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70035

Best Buy posts in-line results for Q2 (BBY) by Michael Baron NEW YORK (CBS.MW) -- Best Buy (BBY) reported second-quarter earnings from continuing operations of $140 million, or 42 cents per share, up from its year-ago profit of $79 million, or 24 cents per share, and in line with Wall Street's consensus view. Revenue rose in the latest three months to $5.4 billion from $4.62 billion in the same period a year earlier. Same-store sales for the quarter jumped 7.5 percent. The Minneapolis consumer electronics retailer attributed the strong results to sharper promotional strategies, effective management of product life cycles, and robust demand for digital products, which typically carry higher gross margins. Looking ahead, Best Buy boosted its outlook for 2004 to earnings of between $2.35 and $2.40 per share, surrounding the average estimate of 24 analysts polled by Thomson First Call for a profit of $2.38 per share. The stock closed Tuesday at $52.66, up 49 cents. 8:06AM FedEx tops Wall St. view for Q1 EPS by 4c (FDX) by Michael Baron NEW YORK (CBS.MW) -- FedEx (FDX) reported first-quarter earnings before items of $184 million, or 61 cents per share, up from its year-ago profit of $158 million, or 52 cents per share, and 4 cents ahead of the average estimate of analysts polled by Thomson First Call. Revenue rose in the latest three months to $5.69 billion from $5.45 billion in the same period a year earlier. The Memphis, Tenn., package delivery firm attributed the strong results to improvement in yields from its International Express, Ground, and Freight operations, as well as growth in U.S. domestic Express package volume, and better cost management. Looking ahead, FedEx sees earnings before items of 80 to 90 cents per share in the second quarter, and $3 to $3.15 per share for the full year. Wall Street's current consensus estimates for these periods are for earnings of 90 cents and $3.25 per share, respectively. The stock closed Tuesday at $66.08, up 1.7 percent.