ARRIS Group, Inc. (ARRS) Announces Share Repurchase; Stock Gains Momentum
Shares of ARRIS Group, Inc. (ARRS) jumped 19 cents to a Wednesday high of $5.89 after the board of directors announced that it authorized the repurchase of up to $100 million of the company’s stock via an open market repurchase or through block purchases. The timing and number of shares to be purchased will depend on market conditions. "The repurchase authorization by our board of directors reflects our strong confidence in the markets that we serve, in the future of ARRIS and also demonstrates our continuing commitment to pursuing opportunities to create shareholder value," Chief Executive Bob Stanzione said. Wednesday’s…