Best Buy (BBY) NewsBite - BBY Moves Higher On Retail Sales Report

Posted: Friday, March 12, 2010 1:38 PM EDT

Best Buy (NYSE: BBY) opened at $39.92. So far today, the stock has hit a low of $39.75 and a high of $40.36. BBY is now trading at $40.19, up $0.72 (1.82%). Over the last 52 weeks the stock has ranged from a low of $27.40 to a high of $45.55. BBY shares are rising with other retailers today after the Commerce Department said US retail sales rose 0.3 percent in February. Analysts were expecting a 0.2 percent decline. Technical indicators for the stock are neutral and S&P gives BBY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BBY the stock seems like it could be a candidate for a June out-of-the-money bull-put credit spread below the 34 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (BBY)