<div id="subtitle">GameStop announces $300 million stock buyback plan in outlining new capital strategy</div><div><p>Video game retailer GameStop Corp. said Monday it has authorized a $300 million stock buyback plan and plans to spend $200 million on opening new stores and other types of expansion.</p><p>The company said the buyback would boost its earnings per share by about 10 percent at today's stock prices by reducing the number of shares outstanding.</p><p>GameStop said its plans also include $200 million for opening 400 stores and other expenditures. GameStop also said it would reserve $100 million for acquisitions.</p><p>It said it expects to end the 2010 fiscal year with $700 million in cash after it executes the new plans for its money.</p><p>The company, based in Grapevine, warned the program may be suspended or terminated at any time.</p><p>The stock rose 47 cents to 20.79 in extended trading following the announcement. The shares had finished the regular trading session up 3 cents at $20.32.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=66732082&bid=informcom" /></div><div id="copyright"><div>

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