Consumer electronics chain Best Buy Co., Inc. (NYSE:BBY) raised its cost-reduction target to $1 bil, 38% higher than earlier, after it reported a 3% drop in Q4 sales to $14.47 bil, below analysts’ $14.66 bil target. EPS minus items fell 20% to $1.24 a share, better than the $1.01 analysts polled by Thomson Reuters expected. On Wed., Best Buy reportedly told about 2,000 U.S. managers they were being laid off, which would be its biggest cut since July ’12 as it trims costs. Best Buy Co., Inc. (NYSE:BBY) stock opened at $27.70 in last trading session, and closed at $25.57, trading in the range of $25.42 – $28.20. The stock showed a positive weekly performance of 2.94%.
Sirius XM Holdings Inc. (NASDAQ:SIRI) stock has an average recommendation of Overweight, with an average target price of $4.22. Sirius XM Holdings Inc. (NASDAQ:SIRI) shares closed at $3.61 on last trade day, by gaining 1.12%. Stock 52 week range is $2.95 – $4.18. Company’s market capitalization is $21.77 billion.
eBay Inc (NASDAQ:EBAY) founder and Chairman Pierre Omidyar rejected investor Carl Icahn’s call to separate the company’s fast-growing PayPal payments unit, saying the businesses were better off together. Omidyar, who is the largest shareholder in eBay with a stake of 8.37 percent, said separating PayPal from eBay was not a new idea and the board had evaluated the option but decided to keep the businesses together. eBay Inc (NASDAQ:EBAY) stock advanced 1.74% and finished the last session at $58.34. The EPS of the stock remained 2.18. Company’s market capitalization is $75.53 billion.
TheStreet Ratings team rates Rite Aid Corporation (NYSE:RAD) as a Hold with a ratings score of C. Rite Aid Corporation (NYSE:RAD) stock opened at $6.58 in last trading session and closed at $6.74. The 52 week range of the stock is $1.58 – $6.87 and the day range was $6.52 – $6.75.