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C.H. Robinson's stock surges after buyback boost, paces Dow transports' gainers

Shares of C.H. Robinson Worldwide Inc. CHRW, +2.20% rallied 2.2% in midday business Friday, enough to tempo the Dow Jones Transportation Average's DJT, +1.02% gainers, after the freight transportation company boosted its share repurchase program. The company mentioned overdue Thursday that it was once adding 15 million shares to its buyback program, which had 1.2 million shares closing in the program that was once licensed in 2013. With 139,237,319 shares outstanding as of May 10, the corporate can now reduce its shares outstanding through about 11.6%. The stock's value acquire of $1.88 was once adding about 11.5 points to the Dow transports' value, which was once up 99 points, or 0.9%. Meanwhile, the Dow Jones Industrial Average DJIA, +0.37% was once up 52 points, or 0.2%.