Associated Press/Bebeto Matthews
- Best Buy‘s holiday quarter beat on the top and bottom lines.
- The big-box retailer’s board approved a new $3 billion share buyback plan.
- Shares surged nearly 15% on Wednesday to the highest level since November.
- Watch Best Buy trade live.
Best Buy reported quarterly earnings and revenue on Wednesday that topped analysts’ expectations, sending shares rallying 15% to a three-month high.
The Minnesota-based retailer said its board authorized a $3 billion share buyback plan, and plans to spend between $750 million and $1 billion on share buybacks during its fiscal year 2020.See the rest of the story at Business Insider
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