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What to Look for When Best Buy (BBY) Reports Q2 Earnings

NEW YORK (TheStreet) -- Best Buy (BBY) is projected to post a year-over-year decline in earnings and revenue for the fiscal 2017 second quarter before Tuesday's market open.

Analysts surveyed by Thomson Reuters are looking for adjusted earnings of 43 cents per share on $8.40 billion in revenue.

For the year-ago period, Best Buy reported adjusted earnings of 49 cents per share on $8.53 billion in revenue.

Jefferies downgraded the stock to "hold" from "buy" on Monday, citing concerns that a "maturing" 4K TV cycle will lead to soft comparable-store sales and weaker margins.

The firm also cut its...