Best Buy's Shares Fall 27%; Yahoo is Looking for a New COO
PUBLISHED ON: Jan 16, 2014
Stocks end the day mixed after investors received mixed results from the holiday shopping season. After Best Buy (BBY) said that sales number didn't reach expectations during the holiday season their shares fell more that 27% to $27.17 during afternoon trading. T-Mobile (TMUS) is offering to pay up to $650 in cancellation fees if you switch from your current wireless provider to T-Mobile, and it seems to be working. Just a little over a year ago T-Mobile was losing customers left and right, but now the mobile company seems to be growing faster than its competitors.As the economy continues to grow the number of houses in foreclosure is decreasing. In 2013 the number of foreclosure filings fell to their lowest level in six years. Yahoo's (YHOO) Marissa Mayer's first major hire has stepped down and decided to leave the company. Henrique de Castro has served as COO of Yahoo for the past 15-months but has felt recent pressure after he failed to revive Yahoo's ad revenue.
Word on the Street
- Obamacare could create longer wait times at Emergency Rooms.
- J.C. Penny (JCP) laying of 2,000 and closing 33 stores.
- T-Mobile (TMUS) acquiring new customers, growing faster that its competitors.
- Target (TGT) to testify to Congress about massive data breach.
- What consumers want out of Microsoft's (MSFT) Window's 9.
- Will Bitcoin be taxed this year?
- PNC Financial Services Group (PNC) reports record net income for 2013.
Posted in ...Daily Market Commentary