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CNBC's Courtney Reagan discusses Best Buy's fourth quarter profit gain. Reagan says Best Buy CEO Hubert Joly is focused on its stores and growing its regional markets.
Feb 27- U.S. retailer Best Buy Co Inc reported a better-than-expected quarterly profit on Thursday and announced more aggressive cost cuts this year, sending its shares up nearly 6 percent in morning trading.
Best Buy remains focused on growing its online sales, reports CNBC's Courtney Reagan, after the retailer beat the Street by a wide margin in the fourth quarter.
*Retailers look to rise after J.C. Penny, Best Buy results. NEW YORK, Feb 27- U.S. stock index futures pointed to a slightly lower open on Thursday, with a better-than-expected read on durable goods helping to offset geopolitical uncertainty in Ukraine.
While Best Buy beat analyst estimate for profit, the world's largest consumer electronics chain missed the Street forecast for sales.
Some of the names on the move ahead of the open.
Feb 27- Best Buy Co Inc reported a better-than-expected quarterly profit Thursday on lower expenses and said it was running ahead of plan in terms of cutting costs, sending its shares up 6 percent in premarket trading.
Anthony Chukumba, BB&T Capital Markets analyst, discusses the big box retailer's quarterly numbers and weighs in on the company's turnaround plan.
*J.C. Penney and Best Buy rally in premarket after results. NEW YORK, Feb 27- U.S. stock index futures fell on Thursday, with the S&P 500 poised to recede further from record levels amid political uncertainty in Ukraine and ahead of comments from Federal Reserve Chair Janet Yellen.
Feb 27- Best Buy Co Inc, the world's largest consumer electronics chain, on Thursday reported a quarterly profit on lower costs. Net earnings from continuing operations were $310 million, or 88 cents a share, in the fourth quarter ended on Feb. 1, compared with a net loss of $461 million, or $1.36 a share, a year earlier.
Autozone Inc. fell $4.26 or. 8 percent, to $535.04. Bed Bath& Beyond Inc. rose$. 95 or 1.4 percent, to $68.14. Best Buy rose$. 51 or 2.0 percent, to $25.82.
Yellen testifies before the Senate Banking Committee Thursday and if she decides to stop using the weather as an excuse for a down economy, watch out.
Autozone Inc. fell$. 59 or. 1 percent, to $538.71. Bed Bath& Beyond Inc. rose $1.08 or 1.6 percent, to $68.27. Best Buy rose$. 28 or 1.1 percent, to $25.59.
Autozone Inc. fell$. 25 or percent, to $539.05. Bed Bath& Beyond Inc. rose$. 77 or 1.1 percent, to $67.96. Best Buy rose$. 10 or. 4 percent, to $25.41.
Autozone Inc. fell $2.91 or. 5 percent, to $539.30. Bed Bath& Beyond Inc. rose $1.20 or 1.8 percent, to $67.19. Best Buy rose$. 14 or. 6 percent, to $25.31.
Autozone Inc. rose $3.25 or. 6 percent, to $542.21. Bed Bath& Beyond Inc. rose $1.00 or 1.5 percent, to $65.99. Best Buy rose$. 53 or 2.2 percent, to $25.17.
NEW YORK, Feb 23- For U.S. stock investors, the main event will be Federal Reserve Chair Janet Yellen's return trip this week to Capitol Hill. Wall Street will hang on her every word about the weather, of all things, when she goes before the Senate Banking Committee to complete her semi-annual testimony about monetary policy.
The main focus will be Part Two of Federal Reserve Chair Janet Yellen's semi-annual monetary policy testimony before the Senate Banking Committee on Thursday. Ironically, Yellen's congressional testimony before U.S. lawmakers was rescheduled after a Senate panel previously canceled the original hearing date due to a recent snowstorm in Washington, D.C..
The latest cold blast is likely to add to the murky economic picture, which is already making it difficult for stocks to advance.