Market Preview: The Buy Signal
As of Tuesday's close at $19.37, Best Buy shares are down 17% so far in 2012, hitting a 52-week low of $17.53 on May 21. In the past 52 weeks, the stock has dropped more than 40% with company forced to close stores as it loses market share to online retailers like Amazon.com(AMZN) .
Best Buy shares ran as high as $21.59 during Tuesday's regular session as the report first surfaced late in the session. The stock was last quoted at $19.19, down less than 1%, on after-hours volume of roughly 200,000, according to Nasdaq.com.
Other companies making headlines after the bell included Bristol-Myers Squibb(BMY) , which announced an additional $3 billion buyback authorization after the closing bell; and H&R Block(HRB) , which delivered earnings from continuing operations that topped its own expectations for its fiscal fourth quarter.
--Written by Michael Baron in New York.
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