News Summary

Shares of Walgreen Co (NYSE: WAG) dropped about 5.7% after the company reported a 30% rise in its fiscal third-quarter profit on Tuesday. Walgreen's quarterly profit surged to $603 million, or $0.65 per share, from $463 million, or $0.47 per share, in the year-earlier period. Its sales increased to $18.37 billion from $17.2 billion. However, analysts were expecting earnings of $0.62 per share on sales of $18.38 billion.

Shares of Best Buy Co Inc (NYSE: BBY) gained about 3.8% after the company reported that its board of directors approved a $5 billion share buyback and lifted its quarterly cash dividend by 7%. Best Buy will lift its quarterly cash dividend by 7% to $0.16 per share.

Shares of Tower Bancorp Inc (NASDAQ: TOBC) surged about 33% after Susquehanna Bancshares Inc (NASDAQ: SUSQ) agreed to buy Tower Bancorp for $343 million in cash and stock, representing a 41% premium over Tower's closing stock price on Friday. Susquehanna expects the deal to lift its 2013 earnings per share by 10%. Susquehanna expects the deal to close in the first quarter of 2012.