Best Buy Jumping On Ackman Rumors

by Jonathan Chen, Benzinga Staff Writer

June 3, 2011 9:58 AM | 26 seconds read | Make a Comment

Best Buy Co., Inc.

BBY

shares are jumping higher this morning, well off their session lows on rumors that Bill Ackman is going to file a significant stake in the company later today. Ackman spoke at the Ira Sohn conference last week and announced a

position in Family DollarFDO

, but gave no mention of Best Buy. At last check, shares of Best Buy were up 55 cents to $31.09, a gain of 1.8%.

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Posted In: Rumors Bill Ackman Computer & Electronics Retail Consumer Discretionary General Merchandise Stores Ira Sohn Conference Pershing Square Capital

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Best Buy Jumping On Ackman Rumors