NEW YORK, NY / ACCESSWIRE / May 26, 2017 / Best Buy had one of the most amazing days the stock has ever seen on Thursday after reporting first quarter revenue that topped the Street. Shares hit an all-time high. Sears Holdings' shares also exploded and were up as much as 30% during intra-day trading after the retailer released its first quarter earnings report that was bad, yet not as bad as the market had expected.

RDI Initiates Coverage on:

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

Sears Holdings Corporationhttps://ub.rdinvesting.com/news/?ticker=SHLD

Best Buy Co., Inc.'s shares were on fire in Thursday trading after the company released a first quarter report that surprised the Street. Shares rallied to an all-time high yesterday as investors digested the news. Revenue for the retailer in the first quarter came in at $8.53 billion which was way ahead of the $8.28 billion that the Street had called for. The most surprising beat was same-store sales at growth of 1.6% when back in March Best Buy had warned there would be a drop. The Street had waited for 1.5% drop in same store sales growth. Online sales hit over $1 billion for the first time outside of the holiday quarter. Online sales at $1.02 billion represented a 22% growth for the company. Looking ahead Best Buy is waiting for even more growth in the second quarter. CEO Hubert Joly stated, "Our revenue was higher due to strong performance in gaming." The Nintendo Switch debut in early March was a big seller according to Bloomberg. Shares of Best Buy closed up 21.48% yesterday on staggering volume.

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

Sears Holdings Corporation closed up 13.52% on Thursday on enormous volume after the retailer had a surprise beat in its first quarter earnings. Traders were so thrilled that they sent shares to their highest intra-day percentage gain in more than three months. In fact, shares were up as much as 32.5% before pulling back and had erased all of the stocks losses for the year. The struggling company posted its first quarterly profit in almost two years. The Street had been fearing the worst and was pleasantly surprised by the report. Despite sales falling more than 20% from a year ago and same store-sales dropping 11.2% at Kmart stores and 12.4% at Sears stores in the U.S., it was still better than what analysts had estimated. Traders were for the moment optimistic that the company will somehow survive.

Access RDI's Sears Research Report at: https://ub.rdinvesting.com/news/?ticker=SHLD

Our Actionable Research on Best Buy Co., Inc. (NYSE: BBY) and Sears Holdings Corporation (NASDAQ: SHLD) can be downloaded free of charge at Research Driven Investing.

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