Stock Movers Best Buy Gains, Akamai Rises, Newmont Slides
Mar 3, 2026
Christine Aquino, Bloomberg News managing editor for Bloomberg Markets Live, offers market commentary and company analysis. She breaks down Best Buy’s holiday profits and outlook. She discusses Akamai’s AI investments and pricing moves. She covers Newmont’s share drop and broader precious metals pressure.
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Best Buy Holiday Strength Masks Sluggish Midterm Outlook
- Best Buy beat expectations in the holiday quarter, driven by a blockbuster Nintendo Switch release and a strong replacement cycle.
- The company forecast 2026 same-store sales up only ~0.5% and hinted at a potential 2027 decline, tempering longer-term enthusiasm.
Akamai Doubles Down On AI Infrastructure And Pricing
- Akamai shares rose after moves to bolster AI infrastructure with thousands of NVIDIA Blackwell GPUs and plans to reduce inference latency.
- The company also signaled interim surcharges and pricing adjustments for contract renewals, easing trader concerns about rising costs.
Gold Selloff Hits Newmont After Newcrest Acquisition Fails To Impress
- Newmont plunged with gold down over 4%, its biggest drop in about a month, dragging the world's largest gold miner down ~7.7%.
- Bloomberg Intelligence noted Newmont's Newcrest acquisition hasn't yet shown a clear portfolio upgrade or higher 2026 volumes.