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Dollar Tree Surges, Best Buy Jumps, Snowflake Rises Most Since 2020 on Sales Outlook, Amazon Deal
Description
On this episode of Stock Movers:
- Dollar Tree (DLTR) shares surge. Dollar Tree Inc. boosted comparable sales last quarter despite a decline in customer traffic by getting shoppers to spend more. The results show the impact of the discount chain’s strategy of converting locations to offering higher price points, a shift away from selling items for about $1.
- Best Buy (BBY) shares soared after the electronics retailer reported sales that topped estimates as demand for consumer electronics held up in the face of inflation and soaring gas prices.
- Snowflake (SNOW) shares surged after the software maker gave a stronger-than-expected annual outlook and signed a $6 billion multiyear agreement to use Amazon.com Inc.’s cloud services and chips.
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