Best Buy: Dead or Born Again?

NEW YORK (TheStreet) -- Talk about a split. Best Buy(BBY) reported second-quarter earnings Tuesday and the media was caught between declaring bankruptcy and opportunity at hand.

Perhaps that's why we have two hands.

On the one hand was Minyanville, asking in a headline: "Is Best Buy Heading for Bankruptcy?"

You got that? With competition from Apple(AAPL) , Amazon(AMZN) and Wal-Mart(WMT) , Best Buy's earnings were so bad that they are headed for a one-way ticket to financial Palookaville.

The Wall Street Journal, on the other hand, weighed in with: "Best Buy's Results Give Schulze 'More Leverage'."

You get a load of that 'un? There, the weak earnings give the company's founder and largest shareholder more of a foothold to marshal forces and mount a takeover.