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Thursday A.M. Report

Target restarts share buyback as results improve: Target Corp. announced today it will resume buying shares under a $10 billion program originally authorized in November 2007. The Minneapolis-based discount retailer temporarily suspended most of its share repurchase activity in November 2008, seeking to protect its liquidity and debt ratings during the recession. The company said it expects to complete the remainder of its repurchase program within two to three years. Report full story 

Beige Book reports decline in regional economic activity:  Economic activity in the Upper Midwest was down slightly in most sectors over the past month, according to the Federal Reserve’s Beige Book report. Consumer spending, tourism, services, construction and real estate, manufacturing, energy, mining and agriculture segments all declined in the Ninth District. Report full story

Cray enters new St. Paul digs: With a traditional red ribbon-slicing, Cray Inc. officially moved Wednesday into its new Galtier Plaza office in downtown St. Paul. Seattle-based supercomputer firm Cray signed the lease last summer and started planning to relocate its more than 200 employees from its Mendota Heights office. Cray left behind a 55,300-square-foot office at 1345 Mendota Heights Road. Report full story

Digital River pays $26M for stake in European software provider: Digital River  acquired a stake of less than 15 percent in European software download Web site Softonic for $26 million. As part of the deal, Eden Prairie-based Digital River will become the exclusive third-party e-commerce provider for digital buy-now software titles on the Softonic website and significantly increase Softonic’s software catalog by adding a “major portion” of Digital River’s collection of downloadable software titles. Report full story

Granite City completes reverse stock split: Granite City Food & Brewery completed a one-for-six reverse stock split at the close of business on Wednesday. No fractional shares of common stock were issued as a result of the reverse stock split. Shareholders who would have been entitled to fractional shares will receive cash in lieu of stock. Report full story

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