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Filed under: Earnings reports, Best Buy (BBY)

On Tuesday Best Buy Inc. (NYSE: BBY) reported that its first-quarter profits fell due to economic conditions, and furniture maker La-Z-Boy Inc. (NYSE: LZB) said it swung to a fiscal fourth-quarter loss due to lower retail sales.

Best Buy's first-quarter profits dropped 7% from a year ago to $179 million, or 43 cents per share. Analysts polled by Thomson Financial had expected a profit of 37 cents per share.

Filed under: Before the bell, Alcatel-LucentADS (ALU), Barclays plc ADS (BCS)

Barclays (NYSE:BCS) is up about 5% on news that interest rates are unlikely to rise in the UK.

Alcatel-Lucent (NYSE:ALU) is up about 4% on news it has gotten a $1 billion contract from China Mobile (NYSE:CHL).

Infinera (NASDAQ:INFN) is down 25% after revising its growth forecast down.

La-Z-Boy (NYSE:LZB) is down over 12% on a report of a quarterly loss.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

Monday
Economic: Empire (-2.4)
Earnings: Adobe (ADBE), La-Z-Boy (LZB)

Tuesday
Economic: PPI & Core (1.0%, 0.2%), Housing & Permits (980K, 950K), Cap U & IP (79.7%, 0.1%)
Earnings: Best Buy (BBY), FactSet (FDS), Goldman (GS)

Wednesday
Economic: Weekly Crude
Earnings: CarMax (KMX), Commercial Metals (CMC), FedEx (FDX), Morgan (MS), Healthways (HWAY)

Thursday
Economic: Weekly Claims, Leading Ind’s (0.0%), Philly Fed (-12.0)
Earnings: Actuant (ATU), Carnival (CCL), Circuit City (CC), Gerber Scientific (GRB), Smucker (SJM), Pier 1 (PIR), Progress Software (PRGS), H&R Block (HRB), Verifone (PAY)