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Why Is Albertsons Stock Soaring Tuesday? - Albertsons Companies (NYSE:ACI)

Albertsons Companies, Inc. (NYSE:ACI) shares surged more than 11% Tuesday after the supermarket chain beat second-quarter earnings and sales estimates, fueled by strong digital growth and rising identical-store sales, while simultaneously announcing a 750millionacceleratedsharerepurchaseandraisingitsfullyearprofitoutlook.Thesupermarketoperatorreportedthesecondquarteradjustedearningspershareof44cents,beatingtheanalystconsensusestimateof40cents.Quarterlysalesof750 million accelerated share repurchase and raising its full-year profit outlook.The supermarket operator reported the second quarter adjusted earnings per share of 44 cents, beating the analyst consensus estimate of 40 cents.Quarterly sales of 18.915 billi ...