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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (10309)	6/16/1998 2:30:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

Best Buy Co. (BBY) posted a better-than-expected first-quarter profit of 16 cents a share. Wall Street expected 11 cents a share. Same-store sales for the quarter rose 15.3 percent. Last year's first quarter showed a loss of 3 cents a share. Shares, however, fell 2 3/4 to 36 3/8 Best Buy <BBY.N> down on profit-taking after Q1... This was a case of everyone taking profits BEFORE earnings came out. BBY was one of the easiest, profitable and most bought stock in the last few weeks. I had my run with BBY and expect it to be good for daytrading after a short-lived retreat. Last week, the company reported that they expected to post first quarter earnings at the high end of analysts' estimates so most people bought around that time and before. That is not the case with most companies. There are companies that are not OVERBOUGHT (i.e. CKR,SLR,) and the earnings report will propel them higher.