⚡ MARKET RECAP → US stocks fell again Tuesday amid escalating tensions in the Middle East following US-Israel strikes on Iran, though comments from President Trump appeared to mitigate some of the midday losses.

📊 BEST BUY BEATS BUT CAUTIONS ON SALES → Best Buy (BBY) beat earnings expectations with strong profit results but missed on revenue and offered conservative fiscal year guidance as holiday sales softened, prompting a stock rally driven by cost discipline, marketplace and ad growth, and dividend strength.

📡 FCC SIGNALS FAST APPROVAL FOR WBD-PARAMOUNT MERGER → FCC Chair Brendan Carr told CNBC he expects Paramount Skydance’s acquisition of Warner Bros. Discovery (WBD) — now the frontrunner after Netflix (NFLX) exited the bidding — to receive swift regulatory clearance, describing it as “cleaner” than Netflix’s earlier proposal while noting the FCC’s role is largely procedural.

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For the week beginning March 2, 2026

📈 Best Buy (BBY) reported a mixed but ultimately solid Q4 for fiscal 2026 that lifted the stock. The consumer electronics retailer delivered adjusted earnings of about $2.61 per share, topping expectations, helping the shares climb despite broader market weakness. Soft holiday spending pulled down top-line results, but profit resilience impressed investors.

📉 Revenue and sales paint a softer demand picture. Q4 revenue came in slightly below forecasts, with comparable sales down about 0.8 %, reflecting weak appliance and home theater categories even as computing and mobile phones remained steadier. Best Buy also provided fiscal 2027 guidance that’s modest, with revenue and earnings projections slightly under analyst consensus — a signal that consumer spending on tech is still cautious.

💪 Profit drivers and strategic shifts stood out. Cost reductions, growth in its third-party marketplace and advertising business, and a rising dividend yield helped offset headwinds — and have investors giving the company benefit of the doubt. The result: Best Buy became one of the top S&P 500 performers on the day even with softer guidance, as traders priced in resilience and dividend appeal.

📡 FCC Chair Brendan Carr told CNBC that the Paramount Skydance acquisition of Warner Bros. Discovery (WBD) is likely to sail through regulatory review. Carr said the deal — which came together after Netflix (NFLX) declined to raise its rival bid — is “cleaner” than the previous Netflix-WBD transaction and that the FCC’s role, if any, will be minimal, with approval expected “pretty quickly.”

🧠 Carr downplayed competition concerns compared with Netflix’s approach. He noted that the market share implications of Paramount’s offer differ significantly from the earlier Netflix bid, which had raised more alarms in Washington about concentration. Most of the antitrust review will fall under the Department of Justice, while the FCC’s examination is considered largely procedural.

⚖️ The regulatory backdrop remains mixed. Though the FCC appears ready to clear the deal quickly, other voices — including state attorneys general and consumer advocates — are pushing for a vigorous review of potential job losses, consumer pricing, and reduced media competition. The merger still needs broader U.S. and international approvals before it can close.

Five races to watch on the day the 2026 midterm elections kick off (CNBC)

How Iran chooses its supreme leader, and who could be next? (CNBC)

The Strait of Hormuz is facing a blockade. These countries will be most impacted (CNBC)

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