Best Buy (BBY) reported earnings before the bell yesterday, and the not-so-hot numbers sent shares roughly 2% into the red. Sales missed expectations by more than $1 billion thanks to a 10% year-over-year decline, while its net loss came to $81 billion. Regardless, BBY still is trading near a 52-week high with 120% YTD gains.
Sprint (S) upped its bid for the outstanding 50% stake in Clearwire (CLWR) to around $2.5 billion, or $3.40 per share, giving Clearwire stock a 5% boost by yesterday afternoon.
Next up, Marketo (MKTO) – a provider of cloud-based marketing platforms — went public last Friday at $13. Since then, the company’s share price has almost doubled, nearing $25 and blowing away the gains of last week’s other offerings. But don’t be surprised — cloud-related stocks have been hot for some time now.
Retailer Home Depot (HD) reported solid Q1 earnings yesterday, booking an 18% increase in net income thanks to the ongoing housing recovery and subsequent wealth effect. Shares gained 3% as a result, which brings the retailer’s 52-week gains to over 66% — more than double the broader market.
Cruise company Carnival Corp. (CCL), on the other hand, has been moving the opposite direction. It shed around 4% yesterday after lowering its profit forecast. That bad news comes not long after the stock was hammered by the Triumph mishap — dubbed the “poop cruise.” CCL is sitting in the red 8% since January.
Last but not least, the headline of the week was Yahoo‘s (YHOO) purchase of blog site Tumblr. The company has promised not to screw up David Karp’s blogging platform, but most folks are skeptical about the acquisition.
Check out past “6 Stocks in 60 Seconds” clips here.
For more videos — including exclusive access to full-length interviews and early access to weekly updates — like us on Facebook or follow us on Twitter. As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities. Follow her on Twitter: @alyssaoursler.