Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Pep Boys Announces $50 Mln Stock Buyback Program

RELATED NEWS
Trade PBY now with 

Pep Boys - Manny, Moe & Jack (PBY: Quote) said Wednesday that its board of directors has authorized a program to repurchase up to $50 million of the company's common stock.

The program is effective immediately and has no expiration date.

"Based on current market prices, we believe that our stock is undervalued and that the repurchase program is a good investment of available cash on hand and future cash flows," said President & Chief Executive Officer Mike Odell.

Click here to receive FREE breaking news email alerts for Pep Boys and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Following the long, holiday weekend, stocks may move to the upside in early trading on Tuesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 15 points. The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction. Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter. Policymakers of Reserve Bank of Australia decided to maintain its record low interest rate once again as they continue to assess that the most prudent course is a period of stability in interest rates. The monetary policy board retained the cash rate at 2.50 percent. The rate has been at the current level since August 2013.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.