Best Buy Jumping On Ackman Rumors

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 Dollar FDO, 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%.