Latest news with #Peoria
Forbes
14 hours ago
- Business
- Forbes
Is A 50% Plunge On The Horizon For Best Buy Stock?
PEORIA, ARIZONA - FEBRUARY 21: A Best Buy logo is displayed outside a store on February 21, 2025 in ... More Peoria, Arizona. (Photo by) Note: Best Buy's FY'25 ended on February 1, 2025 Question: How would you respond if you owned Best Buy's stock (NYSE: BBY) and its price decreased by 50% or more in the months ahead? While this may seem drastic, such a scenario has occurred in the past and could certainly happen again. The electronics retailer's stock has already dropped 23% year-to-date, falling short of the S&P 500's stagnant growth. In Q1 2026, the company announced a 2% decrease in net sales and a 5% decline in earnings per diluted share, attributing this to weakness in home theaters, appliances, and drones compared to the previous year. Here's the point: The main takeaway is that during a downturn, BBY stock could experience significant losses. Data from 2020 shows that BBY stock lost about 45% of its value within just a few quarters, while also enduring a peak-to-trough decline of around 55% during the inflation crisis of 2022, performing significantly worse than the S&P 500. This prompts the question: if similar challenges were to arise, could the stock undergo a major sell-off and potentially drop to $35 from its current price of $66? Of course, individual stocks are generally more volatile than diversified portfolios. As a result, if you seek growth with reduced volatility, you might want to explore the High Quality portfolio, which has outperformed the S&P 500 and achieved returns exceeding 91% since its inception. In response to increased tariff-related costs, Best Buy has implemented selective price increases effective mid-May 2025. Best Buy's heavy reliance on imported electronics makes it particularly vulnerable to tariff fluctuations. Approximately 30–35% of its merchandise is sourced from China, while about 25% comes from the U.S. or Mexico, which are exempt from certain tariffs due to domestic production or trade agreements. The remaining 40% originates from countries like Vietnam, India, South Korea, and Taiwan, which are subject to a 10% tariff. The U.S. currently imposes tariffs of up to 30% on imports from China. Notably, around 97% of Best Buy's products are imported by vendors rather than directly by the company. To mitigate tariff impacts, Best Buy has encouraged its vendors to diversify manufacturing locations, negotiate lower costs, and adjust the product mix. BBY stock has performed worse than the benchmark S&P 500 index during several recent downturns. While investors remain hopeful for a soft landing for the U.S. economy, how severe could the situation become if another recession occurs? Our dashboard How Low Can Stocks Go During A Market Crash shows how leading stocks performed during and after the last six market crashes. • BBY stock decreased 54.5% from a peak of $138.00 on November 22, 2021, to $62.85 on October 20, 2022, compared to a peak-to-trough decline of 25.4% for the S&P 500 • The stock is still yet to recover to its pre-Crisis high • The highest price the stock has reached since is $103.30 on September 30, 2024, and it now trades at approximately $66 • BBY stock fell 44.9% from a high of $91.93 on February 20, 2020, to $50.69 on March 23, 2020, compared to a peak-to-trough decline of 33.9% for the S&P 500 • The stock fully recovered to its pre-Crisis peak by July 22, 2020 At its current price of roughly $66 per share, BBY is trading at about a forward P/E ratio of 11x the consensus 2026 earnings estimate—slightly below its four-year average P/E ratio of 12x. Analysts have set an average 12-month price target of $81, reflecting a potential upside of over 20% from current prices. See our analysis on Best Buy's Valuation for additional insights into what is influencing our price estimate for the stock. Despite this appealing valuation, Best Buy has adjusted its fiscal 2026 guidance downward, now forecasting revenue in the range of $41.1 billion to $41.9 billion, from the earlier range of $41.4 billion to $42.2 billion. Adjusted earnings per share are expected to be between $6.15 and $6.30, lower than the prior estimates of $6.20 to $6.60. The company expects ongoing cautious consumer behavior amid persistent inflation, leading to restrained discretionary spending, especially on high-ticket products. Consensus forecasts indicate flat revenue growth in fiscal 2026, with a modest 2% increase projected for fiscal 2027, reflecting tempered expectations amidst persistent macroeconomic and operational obstacles. Considering this possible slowdown in growth and the greater economic uncertainties, ask yourself the question: Do you plan to hold your BBY stock now, or will you panic and sell if it starts to fall to $40, $30, or even lower? Holding onto a declining stock is never easy. Trefis partners with Empirical Asset Management—a wealth manager based in Boston—whose asset allocation strategies yielded positive returns during the 2008-09 period when the S&P fell more than 40%. Empirical has integrated the Trefis HQ Portfolio into its asset allocation framework to offer clients better returns and less risk compared to the benchmark index—a smoother experience, as demonstrated in HQ Portfolio performance metrics.
Yahoo
17 hours ago
- General
- Yahoo
'Just one win away.' Local baseball, softball teams prepare for state quarterfinal games
PEORIA, Illinois (WMBD) – Monday marks the small school baseball state quarterfinals. The Eureka Hornets one away from their goal of a trip to the 2A Final Four. They've been so very close to getting back to the state tournament since their last trip in 2013. But this may be the year they end the streak. The Hornets have already racked up 33 wins this season, but they know the biggest would be Monday night. One win away from state, it's everything I wanted. I mean that one win we're going to get that on Monday at Geneseo. So looking forward to that. We're always prepared for every game, practice, anything. We're always ready. Andrew Zimmerman This is a good feeling. I mean, we've had so many chances the last ten years to get to this moment and get a chance to move on to a super again since 2013. It's a good feeling Dane Wear Eureka battles Wilmington in Geneseo. First pitch set for 6 p.m. In 1A, Lexington can punch their first ticket to state in a quarter century win a win on Monday. They last reached the state final four when they won a championship in 1990. The Minutemen offense exploded Saturday in their sectional title victory over Heyworth; 11 runs plated against the Hornets. They're a team full of confidence and also a tight-knit family. Amazing team, as all I can say is I'm so great. I'm so grateful to be here being with these people. I feel closer to these guys than like they're like my brother. One more game to state. That's all I got to say. Braedan Barber We're not done, though. We got a lot more to improve on one game at a time. I think it's three more games for the whole thing. But we're we're excited, but we're not satisfied Kayden Knight Lexington plays Caitlin Salt Fork at 6:00 at Illinois Wesleyan. It's also a loaded Monday for Central Illinois softball. Four teams competing in the 1A and 2A state quarterfinals; one of them being the Brimfield Indians. It's been 10 years since their last trip to the Final Four, when they the 1A state title in 2015. Now in class 2A, they've been determined all season long to get back to Louisville Slugger in Peoria. Monday will be a business trip for Brimfield. Our expectations were high from the beginning of the season. You know, we're at least making it to state. So I think everyone knows our expectations and our goals and what we need to do to get there. And so if we keep doing what we're doing, I think we have potential Sawyer Drury Brimfield faces Beecher at 4:30 in East Peoria. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
a day ago
- Business
- Yahoo
Illinois lawmakers pass $55 billion state budget Saturday
PEORIA, Ill. (WMBD) — Shortly after state legislators passed the fiscal year 2026 state budget, reactions poured in from politicians who were split down party lines. Many Republicans shared the same sentiment that the new budget was 'bloated' with what they felt were tax increases that hurt working-class Illinoians. The state Democrats, on the other hand, rejoiced over the budget, with many claiming it would help fund much-needed entities such as schools and healthcare and help offset turmoil in Washington, D.C. Republican Rep. Ryan Spain, who represents the House's 73rd District, which includes areas north of Peoria such as Dunlap, Princeton, and Geneseo, denounces the budget and what he says is nearly $1 billion in tax hikes. 'Our state has been in an uncertain financial position for decades, thanks to years and years of financial malfeasance at the hands of the Democratic majority, who have maintained their artificial majority thanks to some of the worst gerrymandering in the entire country,' he said. 'So, it doesn't surprise me that Democrats again violated their own House Rules to ram through the near-largest spending plan in state history that robs the road fund to pay for standard operating expenses, gives legislators another pay rise, diverts funds meant for property tax relief and slaps the people of the state of Illinois with $1 billion in tax hikes. This budget doubles down on years of failed economic strategy that has caused our state to fall behind all our neighbors. The people of the state of Illinois deserve better from their government.' Democratic Sen. Dave Koehler, who represents the Senate's 46th District, including Peoria, East Peoria, and most of Bloomington, celebrated the passing of the budget, citing the support of healthcare. 'This year's budget demonstrates our commitment to providing all Illinois residents with high-quality access to health care,' Koehler stated. 'Our Investment in community-based providers makes certain that essential healthcare services remain available and open for vulnerable residents both in the 46th district and across the state.' Republican Rep. Dennis Tipsword, who represents Illinois' House's 105th district, and he felt the budget was 'bloated' and is sending Illinois 'down the wrong path.' 'The more things change, the more they stay the same in Illinois. Democrats have passed another bloated budget that includes $1 billion in targeted tax increases,' Dennis Tipsword (R-Metamora) said. 'On top of the tax increases, Democrats rewarded themselves with a huge pay raise and pork projects dedicated to their districts. 'Spending has increased by 38 percent in the last six years, a path and pattern that is simply unsustainable. The process to pass this year's budget was again shrouded in secrecy and behind closed doors,' he said. Democratic Rep. Jehan Gordon-Booth, who represents the House's 92nd District, including Peoria, Peoria Heights, and Bartonville, feels it is a responsible and compassionate budget that supports schools, healthcare and helps tackle challenges in Washington, D.C. 'This document puts people first, and reflects a balanced approach in a challenging time,' Gordon-Booth said. 'We're unable to count on the federal government to be an ally on critical issues that help families, and the economic uncertainty caused by reckless cuts and tariff plans further compelled us to develop a forward-thinking budget that has flexibility with funding reserves. By making necessary cuts, we're ensuring we can maximize our resources on priorities that matter to families. 'We took steps forward, but more work remains. I'm going to continue fighting for families so that we can build a brighter future for every community,' she said. Republican Sen. Neil Anderson, who represents the Senate's 47th district, which includes Pekin, Kewanee and Carthage, stated that this is the largest budget in Illinois history, and it hurts Illinois families. 'While Illinois families are cutting back to survive, Democrats just pushed through a $55 billion spending plan, the largest in state history,' he said. 'Worse yet, it comes with nearly a billion dollars in new tax hikes. The budget will mark a nearly 40% increase in state spending since Governor Pritzker took office. 'Our state is already one of the most overtaxed in the nation, yet instead of providing relief to working families and small businesses, Democrats chose greed over responsibility. The result? Businesses are closing. Families are fleeing. And Springfield's insiders keep cashing in while the rest of us pay the price. This isn't leadership, it's exploitation. It's economic warfare against the very people they claim to serve,' he said. Republican Sen. Li Arellano Jr., who represents the Senate's 37th District, which includes Dunlap, Geneseo and Dixon, shared a very similar sentiment as his colleague Anderson. 'Illinois Democrats have just rammed through the largest and most reckless budget in our state's history, over $55 billion in spending, passed with zero transparency, minimal debate, and no regard for the taxpayers who are footing the bill,' he said. 'This isn't leadership. It's political corruption, plain and simple, snuck in during a midnight vote. 'To make matters worse, they're hitting working families with nearly a billion dollars in new taxes. Democrats keep demanding more from you while delivering less. Less public safety. Fewer job opportunities. Less economic growth.' Gov. JB Pritzker shared the same views as his Democratic Party members, saying this was his seventh balanced budget. 'The passage of the FY26 balanced budget is a testament to Illinois' fiscal responsibility,' Pritzker said. 'Even in the face of Trump and Congressional Republicans stalling the national economy, our state budget delivers for working families without raising their taxes while protecting the progress we are making for our long-term fiscal health. I'm grateful to Speaker Welch, President Harmon, the budget teams, and all the legislators and stakeholders who collaborated to shape and pass this legislation. I look forward to signing my seventh balanced budget in a row and continuing to build a stronger Illinois.' Republican Rep. Travis Weaver, who serves the House's 93rd District, which contains Pekin, Brimfield, and Kewanee, shared his quarrels with the budget, saying it is 'outrageous and egregious spending.' 'This year's $55.2 billion budget is $2 billion more than last year and 38 percent higher than it was just six years ago. This is outrageous and egregious spending, and to top it off the majority party is raising taxes by $1 billion to 'balance' their budget hole, he said. 'Illinois does not have a revenue problem, it has a spending problem. We have to tighten our belts, cut waste, and respect our taxpayers and their hard-earned dollars. 'This year's budget process once again involved zero transparency and bills introduced in the final moments of session with no time for actual debate or input. The budget is so bloated it required multimillion-dollar pork projects targeted for Democrat-controlled districts intended to gain their 'yes' vote,' he said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
a day ago
- General
- Yahoo
Ducks go on sale Monday for 37th Annual Duck Race benefiting the Center for Prevention of Abuse
PEORIA, Ill. (WMBD) — The countdown is on for one of Central Illinois' most anticipated summer fundraisers. Ducks officially go on sale June 2nd for the Center for Prevention of Abuse's 37th Annual Duck Race. From now through August, supporters can purchase ducks for $5 each online through the CFPA website. Volunteers will also be selling ducks at various locations across the area throughout the summer. The race is scheduled for Saturday, August 23 at 1 p.m. at Eastside Center in East Peoria. Thousands of rubber ducks will be released, racing toward the finish line in hopes of winning big for their ticket holders. The grand prize? A $10,000 cash award for the first duck to cross the finish line. The first 15 ducks to finish will all win prizes, making the race a fun and rewarding way to support a vital cause. All proceeds from the event go toward the Center for Prevention of Abuse, helping fund services for survivors of domestic violence, sexual assault, human trafficking, and elder abuse. For more information or to purchase a duck, visit their website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
a day ago
- General
- Yahoo
Community rallies in Peoria for 2025 Heart of Illinois Congenital Heart Defect Walk
PEORIA, Ill. (WMBD) — The 2025 Heart of Illinois Congenital Heart Defect Walk brought together families, friends, and supporters this weekend at the Peoria Riverfront. People in attendance shared one common goal: to raise awareness and funding for CHD, a life-threatening condition that affects thousands of children and adults across the country. Pam McMahon, co-chair of the event, emphasized the importance of coming together to support one another and raise awareness. 'We want everybody to come down, enjoy the interaction and the camaraderie with others, and just enjoy a day that is not in the hospital or in the clinic or worrying about what you're going through,' McMahon said. Held along the scenic Peoria Riverfront, the event attracted 28 teams who participated in the one-mile walk and collectively raised more than $40,000 to support CHD research and advocacy efforts. She added that the walk provides an important opportunity for connection. 'It gives families a chance to interact with other families that are going through the same thing that they are. We have a lot of our physicians and providers here today, and they get to see them outside of the office, so they get to interact on a more personal level,' she said. Before the walk kicked off, the riverfront was filled with energy and emotion as dozens gathered to take part in family-friendly activities and listen to heartfelt testimonies from families living with congenital heart defects. Many shared their personal stories of struggle, resilience and hope, creating a strong sense of community and purpose. Although the walk has ended, fundraising efforts continue. Donations will be accepted throughout the month of June to further support CHD research and patient support programs. For more information or to contribute, visit the Heart of Illinois Congenital Heart Walk's website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
