Big 5 shares jump 16% on forecast
From Times Staff and Wire Reports
Big 5 Sporting Goods Corp. shares gained the most in its five years as a publicly traded company after forecasting profit above analysts’ estimates and authorizing $20 million in stock buybacks.
Big 5 shares rose $2.60, or 16%, to $19.09 in their biggest one-day gain since June 2002.
Fourth-quarter profit will be as much 46 cents a share, El Segundo-based Big 5 said. Analysts had expected profit of 42 cents a share, the average estimates compiled by Bloomberg.
