Best Buy dives 5% after Bank of America downgrades to 'sell' on slowing sales of TVs, iPhones
TVs make up 25 percent of Best Buy's total sales and Apple products account for 10 percent, estimates the firm. Best Buy shares dropped Monday after Bank of America Merrill Lynch downgraded the stock to underperform (the firm's equivalent of a sell rating), citing slowing sales of electronics, including the iPhone.