Dick's Sporting Goods and Best Buy reported third-quarter results
Shares of Dick's Sporting Goods Inc (NYSE:DKS) and Best Buy Inc (NYSE:BBY) are in focus today, after both retail giants reported third quarter results.
After opening at $227.67, Dick's Sporting Goods stock was last seen 0.1% higher at $216.00, after the sporting goods retailer posted better-than-expected earnings and revenue for the quarter, as well as a strong outlook for the holiday shopping season. The firm raised its full-year guidance, and anticipates fiscal 2024 same-store sales growth of between 3.6% and 4.2% -- higher than its previous range. Year to date, DKS is still 50.4% higher.
Best Buy stock is 8.9% lower to trade at $84.79 at last glance, after the company reported third-quarter results that were below estimates, and slashed its full-year sales forecast. The consumer electronics retailer said that new iPhones and laptops with artificial intelligence (AI) capabilities couldn't drive sales higher. Since the start of 2024, BBY is up 9%
Options traders are blasting both equities after the results. Already, DKS has seen 12 times the intraday average volume, while BBY has seen 8 times the volume typically seen at this point in trading.