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Best Buy Shares Rise After Earnings Announcement

December 17, 2008 By Stephen Silver
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After Best Buy announced early Tuesday that its earnings dropped 77 percent in the third quarter and that it would slow new store openings and cut staff, the company's stock jumped nearly 18 percent on the New York Stock Exchange.

The results did outperform expectations by Wall Street. The company's 4,000 headquarters employees were given a Jan. 5 deadline to decide whether to accept buyout offers.
 

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