Stocks making the biggest moves midday: Best Buy, Big Lots, Coinbase, Nio and more

Best Buy and Big Lots experience stock gains after beating earnings expectations, while stocks tied to the cryptocurrency industry, such as Coinbase and Marathon Digital, surge due to a court ruling against the U.S. Securities and Exchange Commission.

cnbc.com

Relevant topic timeline:

8/28/2023

Best Buy Tops Estimates, Sees Consumer Electronics Demand Improving Next Year

Best Buy surpasses earnings and revenue estimates for the second quarter and anticipates an improvement in consumer electronics demand in the following year.

8/29/2023

Stocks making the biggest moves premarket: Oracle, AT&T, Best Buy and more

Oracle and AT&T rise after receiving upgrades from UBS and Citi respectively, while Best Buy and Big Lots also experience gains following positive earnings reports, but Heico and Nio struggle after disappointing results.

8/29/2023

Best Buy and the reluctant shopper. Sales fall as Americans pull back on spending

Best Buy's sales and profits declined in Q2 due to a pullback in consumer spending, but the decline was smaller than expected, and shares rose as profits exceeded expectations; the company anticipates stabilization and possible growth in the consumer electronics industry next year as shoppers look to upgrade their gadgets.