Oakley Board OKs Stock Repurchase Plan

Oakley Inc.’s board approved the repurchase of up to $20 million in shares from time to time in the open market, the Foothill Ranch sunglasses maker said Monday.

The stock moved up $1 a share to $16 on the New York Stock Exchange. The shares have nearly tripled this year, but have retreated from their 52-week high of $22.50 on Nov. 6.

Oakley said it has 69.4 million shares outstanding.