RadioShack Buys Back $500 Million in Stock
Chicago, RadioShack Corp. bought back 20 million of its shares for about $500 million. The company said it used $300 million in short-term borrowing and $200 million in cash to pay for the stock, which it bought from an unnamed financial institution.
RadioShack forecasts its full-year profit will be between $1.80 and $1.90 per share. Analysts, on average, forecast a full-year profit of $1.83 per share.