Best Buy earnings top estimates but retailer’s stock tumbles amid weakening demand, shipping bottlenecks

https://www.cnbc.com/2021/11/23/best-buy-bby-q3-2022-earnings.html Earnings per share: $2.08 adjusted vs. $1.91 expected Revenue: $11.91 billion vs. $11.58 billion expected Best Buy shares are falling, despite the company beating third-quarter earnings expectations. The consumer electronics retailer saw sales jump during the pandemic, as Americans …

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Homebuyer Demand Outstrips Supply As Mortgage Rates Creep Up (Demand Has Grown 15X Faster Than Supply Since 2019 And The Entrance Of The Fed And Federal Stimulus)

by confoundedinterest17 https://www.redfin.com/news/housing-market-update-pending-sales-up-47pct-from-2019/According to Redfin, forty-four percent more homes are pending sale than at this time in 2019, but only 3% more homes recently hit the market—down from 12% growth over 2019 just 7 weeks prior. As a result of the severe …

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Demand for Fed Reverse Repo Surges to New High Amid Cash Glut (Overnight Reverse Repos Surged To New High For Third Consecutive Day)

by confoundedinterest17 I call this the “Great Slosh.” (Bloomberg) — Usage at the Federal Reserve’s facility for overnight reverse repurchase agreements Wednesday surged to a new record high for a third consecutive day. Seventy-three participants took $813.6 billion, which exceeded Tuesday’s all-time high of $791.6 billion …

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