Best Buy

BBY

Market cap $13B

Shares of several companies selling stuff people want, rather than need, were trading lower Monday despite a recovery in the broader stock market, as Wall Street worried that failed Middle East peace talks would push up gasoline prices enough to crimp consumer spending.

Traders looking for a short-term “refund effect” often start with retailers, hoping consumers receiving a refund might turn around and immediately spend that money.

Best Buy (NYSE:BBY) stock is down 3% in early Monday trading after Goldman Sachs (NYSE:GS) issued a rare double downgrade, cutting the consumer electronics retailer all the way from Buy to Sell.

Best Buy stock was downgraded to Sell by Goldman Sachs, which warns that rising memory costs could pressure margins and weaken demand for PCs.

Best Buy Co Inc (NYSE:BBY) is 3% lower to trade at $60.50 at last glance, after a Goldman Sachs downgraded the retail stock to "sell" from "buy," and cut its price-target cut to a Street-low $59 from $76.

Diane King Hall looks at the biggest analyst updates causing stocks to move at the start of Monday's trading session. Best Buy's (BBY) double downgrade from Goldman Sachs gave a black eye to the retail space as the firm sees risks in the company's sales.

Verizon, Best Buy, and VICI Properties offer dividend yields above 5% and are still increasing payouts despite market uncertainty.

Best Buy's sales were tepid last year. Management doesn't expect much, if any, improvement this year.

Best Buy (BBY) has experienced a ~25% share price decline from its October peak, entering bear market territory. Despite weak comp sales and industry headwinds, BBY has maintained market share and recently increased its dividend by 1%. The stock's substantial price erosion and higher yield now make BBY appealing for income-focused investors.

Best Buy (BBY) reported earnings 30 days ago. What's next for the stock?