Best Buy Upgraded
A top analyst Monday upgraded Best Buy from "neutral" to "buy," a move that sent the leading CE retailer's stock soaring.
According to the Associated Press, Matthew Fassier of Goldman Sachs made the upgrade Monday and attributed it to both Circuit City's troubles and Best Buy's recent efforts at cost control. The Richfield, Minn.-based chain announced in December that it would offer buyouts to most headquarters employees.
On the strength of the upgrade, the company's stock jumped nearly a dollar to close at $30 Monday.