India, April 10 -- Shares of Cars.com Inc. (CARS) gained over 7% on Friday after announcing strategic updates and an increased buyback plan.
The stock is currently trading at $9.74, up $0.65 or 7.15%, on the NYSE. It opened at $9.55 after closing the previous session at $9.09. The stock has traded between $7.40 and $13.97 over the past 52 weeks.
Cars.com raised its 2026 share repurchase target to $90 million from $60-plus million and reaffirmed its full-year guidance.
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The company is rolling out AI-powered tools, including a dealer assistant and enhanced shopper alerts, while implementing cost cuts expected to deliver $25 to $30 million in annual savings...