best buy guidance

Best Buy shares are plunging in pre-market trading after the giant retailer reported lower-than-expected earnings and slashed its guidance for the full year.

Best Buy Co.'s third-quarter net income fell more than expected as it lost sales of TVs and laptops to competitors. It also cut its full-year outlook Tuesday. Shares of the largest U.S. electronics chain fell nearly 12 percent in premarket trading. The company, which benefited when Circuit City...

Best Buy reported fiscal second-quarter earnings grew 61% despite a decline in consumer traffic. But shoppers bought more per purchase. The results took many by surprise, especially with the company also boosting guidance, ar traffic. But shoppers bound shares shot up 8% in premarket trading.