Best Buy Surges Because They're Doing a Lot Better Than You Thought

Now watching

Next video starts in : 7 Play

Best Buy Surges Because They're Doing a Lot Better Than You Thought

Best Buy Surges Because They're Doing a Lot Better Than You Thought
Replay video
Up next

U.S. Stocks Open Flat as Wall Street Prepares for a Busy Week of Data

Unlock your personal NFL Now stream by signing in to NFL.com

Best Buy Surges Because They're Doing a Lot Better Than You Thought

by TheStreet 0:45 mins

Best Buy Surges Because They're Doing a Lot Better Than You Thought

by TheStreet 0:45 mins

Shares of Best Buy popped on Tuesday making it TheStreet's Move of the Day. The big box electronics retailed raised its dividend two cents to $0.19 a share, suggesting that major changes within the company are yielding positive results for shareholders. Best Buy CEO Hubert Joly said in a statement: "Our decision to increase the amount of cash we are returning to shareholders is indicative of our improved cash position and our confidence in the cash-generating power of our multi-channel business model." Shares jumped nearly 2 1/2 percent Tuesday to $29.49, making it one of the third-best performers in the S&P 500. TheStreet's Joe Deaux reports from Wall Street.

TheStreet

Market Movers

  1. 2:29

    Sears profit; Tyson's beef problem; Goldman's legal costs

  2. 2:40

    Jobs, Greece, China on Wall Street's watch list

  3. 15:02

    Greek market plunge; Obama's new emission rules; Uber's whopping valuation

  4. 1:47

    AT&T to offer wireless and TV bundles

  5. 3:28

    Obama to unveil new emission rules

  6. 2:29

    Uber valued at $51B: Reports

Market Movers

  1. 2:29

    Sears profit; Tyson's beef problem; Goldman's legal costs

  2. 2:40

    Jobs, Greece, China on Wall Street's watch list

  3. 15:02

    Greek market plunge; Obama's new emission rules; Uber's whopping valuation

  4. 1:47

    AT&T to offer wireless and TV bundles

  5. 3:28

    Obama to unveil new emission rules

  6. 2:29

    Uber valued at $51B: Reports