Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Best Buy Shares Jump on Samsung Deal

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Best Buy (NYSE: BBY  ) were getting a lift today, jumping as much as 16%, after the struggling retailer announced a new partnership with smartphone-maker Samsung.

So what: Best Buy said it will begin putting Samsung kiosks in its stores, a move that comes as the Korean electronics maker is challenging  Apple  for supremacy in the smartphone world with its Galaxy line. Investors also seem to believe that the Samsung platforms could be a lifeline for the bricks-and-mortar model, which has struggled to stave off competition from the likes of Samsung plans to open a total of 1,400 kiosks in Best Buy locations with 900 open by early May.

Now what: Best Buy has come roaring back this year, more than doubling in just the last three months alone. Investors have been encouraged by a potential buyout offer from Founder Richard Schulze, and later, a report that showed that online sales grew 10%, an increase that seemed to result from Amazon's agreement to begin collecting sales tax. The latest deal with Samsung seems like yet another arrow in its quiver. Sales are still moving in the wrong direction, though, and Wall Street sees an 8.2% decline in the current quarter. I'd like to see that trend reverse before I got behind the retailer.

For more information on Best Buy, check out our premium research report, which details the company's opportunities and risks, and comes with a year's worth of free updates as an added bonus. You can started with this new package right now. All you have to do is click right here.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2347279, ~/Articles/ArticleHandler.aspx, 9/27/2016 1:42:10 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 4 hours ago Sponsored by:
DOW 18,094.83 -166.62 -0.91%
S&P 500 2,146.10 -18.59 -0.86%
NASD 5,257.49 -48.26 -0.91%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/26/2016 4:06 PM
BBY $37.51 Down -0.48 -1.26%
Best Buy CAPS Rating: *