Home Depot to buy back $18B in shares

Home Depot Inc., the world's No. 1 home improvement chain, announced it would buy back $18 billion of its shares.

Reuters reports the new plan replaces a $17 billion buyback authorized in 2013.

For the fourth quarter, the company reported same-store sales increased 7.9 percent, beating estimates of 5.5 percent.

Net income rose 36 percent to $1.38 billion. Sales were up 8.3 percent to $19.16 billion.

Read more from Reuters.