logo
Share SHARE
FONT-SIZE Plus   Neg

Pep Boys Announces $50 Mln Stock Buyback Program

Pep Boys - Manny, Moe & Jack (PBY) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Royal Bank of Canada got the highest ranking in overall customer satisfaction among the five biggest Canadian banks, according to the results of an annual survey released Thursday. The lender toppled Toronto-Dominion Bank, which had held the top spot for the past ten years. Ford Motor Co.(F) reported a profit for the second-quarter that declined 8.8 percent from last year, while total revenue increased about 6 percent. The company now sees risks challenging achieving 2016 guidance. ConocoPhillips on Thursday reported a loss for the second quarter that widened from last year, reflecting lower revenues and one-time charges. The results for the quarter missed analysts' estimates. However, the company raised its production outlook for the full-year. Like other companies in the oil industry, ConocoPhillips is struggling with lower oil prices.
comments powered by Disqus
Follow RTT