NEW YORK, NY / ACCESSWIRE / September 20, 2017 / Nintendo's shares had a big day in the green on Tuesday after getting a positive note from a Credit Suisse analyst regarding its Switch unit sales and an upgrade. The stock soared to a new high during intra-day trading. Shares of Best Buy fell into the red after the company gave an outline for the future that didn't impress traders.

RDI Initiates Coverage on:

Best Buy Co., Inc.
https://rdinvesting.com/news/?ticker=BBY

Nintendo Co., Ltd.
https://rdinvesting.com/news/?ticker=NTDOY

Best Buy's shares closed down 8% on Tuesday on around 22.5 million shares traded. The stock started to drag after the retailer gave an outlook that didn't have traders feeling happy. The nation's largest consumer electronics chain said that for fiscal 2021, it forecasts EPS of $4.75 to $5.00. Analysts had been looking for $5.30 per share. Enterprise revenue for 2021 is expected to be $43 billion which is ahead of the $40.24 billion that analysts had called for. "Building on what we have accomplished, we are excited by the opportunities we have in this next chapter to grow the company by helping customers pursue their passions and enrich their lives with the help of technology, which is a much bigger idea and one that is rich with opportunities," remarked CEO Hubert Joly. The stock was the second-biggest loser trading on the S&P 500 yesterday.

Access RDI's Best Buy Co., Inc. Research Report at:
https://rdinvesting.com/news/?ticker=BBY

Nintendo's shares saw green on Tuesday, closing the day up 6.06%. The stock also hit a new high of $46.79 during intra-day trading on volume almost ten times higher than usual. Share prices gained speed after investment bank Credit Suisse gave the stock a positive report. Analyst Keiichi Yoneshima upgraded Nintendo from "neutral" to "outperform." Yoneshima also upped his forecast on Nintendo Switch unit sales through 2022. He previously forecast 70 million units and upped it to 130 million units. He remarked, "We had previously expected the Switch to sell like a traditional console, but now expect it to sell more like a handheld." According to the analyst, people are using it more as a portable device rather than a console in the living room. It was earlier this month that Nintendo announced that it would be bringing Tencent's (TCEHY) "Honor of Kings," to the Switch console in the winter. The game is very popular in China.

Access RDI's Nintendo Co., Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=NTDOY

Our Actionable Research on Best Buy Co., Inc. (NYSE: BBY) and Nintendo Co., Ltd. (OTC PINK: NTDOY) can be downloaded free of charge at Research Driven Investing.

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