Why is Telephone and Data Systems stock surging today?
Telephone and Data Systems (TDS) stock rose 7.8% after withdrawing its bid to acquire the remaining 18% of Array Digital Infrastructure. The company will instead focus on share buybacks, with $523.9 million available under existing programs. CEO Walter Carlson cited disagreements over deal terms. The broader market also gained, with the S&P 500 up 0.6% and the Dow Jones up 0.8%.


