Don't Let Best Buy Distract You
For example, it times big announcements to when earnings are on deck. Many in the media will pay attention to the announcement, making it a tool of distraction for the earnings.
With this in mind, let's look at the two ways to cover the news that Best Buy(BBY) plans to name Hubert Joly, the chief executive of hotel and restaurant company Carlson, as its next CEO.
Near the top, The New York Times reminds us in no uncertain terms: "Best Buy is scheduled to report earnings on Tuesday, when it is expected to provide further detail on its own turnaround plans."
The Wall Street Journal, by contrast, provides absolutely no reminder that Best Buy, in the process of getting its clock cleaned by Amazon.com(AMZN) and Wal-Mart(WMT) , will be reporting earnings tomorrow.
It looks to be a brutal quarter. Analysts expect earnings of about 31 cents a share, down from 47 cents in last year's second quarter. Worse, analysts have trimmed their numbers considerably in recent weeks and months. If Best Buy still disappoints, look out below.