Bank of America OKs buyback plan

Bank of America Corp. has approved the purchase of up to 75 million shares of common stock for as much as $3.75 billion. Directors authorized the repurchase over the next 12 to 18 months, the bank said yesterday. The plan replaces a January 2007 program involving up to 200 million shares. The bank's stock is up more than 75 percent in the past six sessions on the New York Stock Exchange, after reaching an eight-year low on... [read full story]