A few business stories from Reuters

* notice one of the buyers of Home Depot. It’s in italics. - JS

Home Depot to buyback stock
By Michael Flaherty and Karen Jacobs

Home improvement retailer Home Depot Inc. (NYSE:HD - news) on Tuesday said it would repurchase $22.5 billion in stock and sell its supply division to three private equity firms for $10.3 billion as it refocuses on its core retail business.

The sale of HD Supply to Bain Capital Partners, Carlyle Group (CYL.UL) and Clayton, Dubilier & Rice unloads a business built up by the home improvement retailer’s former chief executive.

Shares of Home Depot rose 3.5 percent to $39.60 in after-hours trading on news the company
would repurchase $22.5 billion in stock, or nearly one-third its total market capitalization of $74.9 billion, “as soon as practical.”

Best Buy profit disappoints on TV sales
By Franklin Paul and Karen Jacobs

Best Buy Co. Inc. (NYSE:BBY - news) reported quarterly earnings on Tuesday that missed analyst estimates by a wide margin and gave a disappointing full-year forecast as television sales cooled.

The results and a weak earnings forecast sent the shares of the top U.S. consumer electronics retailer down 6 percent. It also cast new doubts on consumer spending trends, weighing on the shares of rivals and the U.S. stock market as a whole.

Yahoo investors see CEO switch as more of the same
By Yinka Adegoke

Investors in Yahoo Inc. (Nasdaq:YHOO - news) abandoned on Tuesday their initial excitement over a management switch at the Internet media company, sending its shares lower on expectations that little real change was in the works.

Yahoo shares dropped 1.5 percent on Tuesday, partly retracing gains of more than 6 percent in extended trading on Monday after the company said co-founder Jerry Yang would take over the chief executive role from Terry Semel.

Some shareholders had bet that Yang’s taking the helm signaled more drastic changes, such as extensive partnerships with technology and media players, or even a potential merger.