Best Buy Co Inc Stock Jumps After Earnings Beat Estimates

Best Buy is rallying nearly 15% in premarket trading Tuesday after reporting second quarter earnings that beat overall analyst consensus.  The big box retailer saw profits climb 12% year over year during the second quarter thanks to strong demand for flat screen TVs, cell phone plans, and other various appliances.  However, Best Buy did acknowledge that tablet sales continue to remain weak.  This latest quarterly earnings beat is further evidence that Best Buy’s rocky past is officially behind it and the return of CEO Hubert Joly in 2012 really did make all the difference in Best Buy’s turnaround.  While Best Buy did see nice sales increases, the quarter came out even better than expected because of Best Buy’s continued cost...