Best Buy Jumping On Ackman Rumors

Best Buy Co., Inc. (NYSE: 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 (NYSE: 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%.