Best Buy announces 42 more Store Closures

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(Best Syndication News) - Best Buy (NYSE:BBY) announced that they would be closing 42 store locations bringing the total closures to 50 by the end of the year. The majority of the store closures will occur on May 12, 2012, while three will remain open until late summer.

Previously, Best Buy has closed one store in Kansas City, Missouri, and another one in Scottsdale, Arizona. The company also had announced five Twin Cities store closures, and another one in San Antonio, Texas before this announcement of the additional 42 store locations closing.

Stock Market Today – First Solar (FSLR) and Apple (AAPL) Among Losers while Rowan (RDC) Among Winners

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(Best Syndication News) Markets were higher in Asia Friday but are opening mixed in Europe on continued EU concerns (see the stock charts below). Commodities and equities were higher Thursday as the dollar crumbled against most major currencies.

While the Shanghai composite index (China) advanced only 0.35 percent, the Hang Seng (Hong Kong) and Nikkei 225 (Japan) were up over one percent Friday. The FTSE 100 (England) has opened higher while the CAC-40 (France) and DAX (Germany) were lower (see the world chart below for Thursday’s results).

Stock Market News – Constellation Brands (STZ) and CarMax (KMX) Widely-held Losers

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(Best Syndication News) Stock markets in Asia are opening lower Monday after a series of negative economic news weighed heavily on investor concerns (see stock charts below). The Chinese government missed their four percent inflation target as consumer prices increased 3.6 percent last quarter (year-on-year).

The Shanghai (China) composite index is down 0.23 percent to 2,301 while the Nikkei 225 (Japan) and Hang Seng (Hong Kong) indexes are down 1.07 percent and 0.95 percent respectively.

Friday’s jobs report was a disappointment. Although the unemployment rate fell from 8.3 percent in February to 8.2 percent in March, economists had expected a stronger payroll number. There were only 120,000 jobs created in the month, while expectations called for between 200K and 230K jobs.

Stock Market Today – SanDisk (SNDK) Slips while American Intl. Group (AIG) Gains – Gold Higher after Close

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(Best Syndication News) Stock markets are opening lower in Asia Thursday after another sell-off in the United States (see stock charts below). Equities were lower Wednesday after a near-failed bond sale in Spain and a disappointing statement from the Federal Reserve.

Investors were optimistic there would be more quantitative easing (QE3) after statements made by Ben Bernanke last week. While the Fed Chairman didn’t say there would be another round of QE, the door was left open. The Federal Open Market Committee (FOMC) statement Tuesday was discouraging and didn’t hint there would be more easy money.

Stock Market News – Micron (MU) NIKE (NKE) DELL (DELL) and SanDisk (SNDK) Report

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(Best Syndication News) Stock markets are opening mixed in Asia Monday after an up-day in the United States Friday (see the stock charts below).

The Nikkei 225 (Japan) is 0.18 percent higher while the Shanghai composite (China) and the Hang Seng (Hong Kong) are down 0.24 percent and 0.04 percent respectively. Slower than expected manufacturing growth in China has raised concerns both domestically and in markets that supply the raw materials.

Many commodities had been lower, however on Friday gold, oil, and silver prices all advanced. April gold futures on the COMEX climbed nearly twenty dollars (1.21%) to $1,662.40 an ounce while May crude oil on the New York Mercantile Exchange (NYMEX) gained $1.50 (+1.44%) to $106.87 a barrel. Brent crude oil was up nearly two dollars (+1.62%) to $125.13 a barrel.

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