All articles tagged with #buyback
SpaceX is planning a fundraising and insider share sale that could value the company at around $400 billion, making it the most valuable private US company, driven by its Starlink satellite internet unit and Starship rocket program milestones.
MongoDB's shares rose 13% after the company reported better-than-expected Q1 earnings, raised its guidance, and increased its share buyback program, indicating strong financial performance.
Apple's aggressive stock buyback program, which has helped boost its share price, could face challenges due to increasing antitrust scrutiny of the tech industry. The company's buyback strategy has been a key factor in driving up its stock price, but regulators are now focusing on whether such practices stifle competition and harm consumers. This potential antitrust crackdown could impact Apple's ability to continue its large-scale buyback initiatives.
Vodafone Group Plc has finalized an €8 billion deal to sell its Italian business to Swisscom AG, completing CEO Margherita Della Valle’s European transformation plans. The deal is expected to shake up the fiercely competitive Italian market and promises to generate solid synergies for investors. Vodafone plans to use the proceeds from this and a recent Spanish unit sale to buy back €4 billion in stock. The combined Fastweb and Vodafone Italia will be a formidable competitor for enterprise services, posing a challenge for Telecom Italia SpA.
Altria Group, the parent company of Marlboro cigarettes, is selling over $2 billion worth of its stake in Anheuser-Busch InBev, with AB InBev planning to buy back $200 million of these shares. This move has caused a 5% drop in AB InBev's stock price, with analysts seeing it as a short-term negative for sentiment but of minimal longer-term significance.
British American Tobacco plans to sell up to $2.1 billion of shares in Indian partner ITC Ltd. to return cash to shareholders and invest in its business. The company will use the cash raised to buy back £700 million of its own shares and continue to use operating cash flow to lower debt and fund business investments. BAT's move comes after pressure to return more cash to shareholders and a significant write down on the value of its US cigarette brands.
Despite strong quarterly results, Salesforce's stock slides after the company's guidance for the January 2025 fiscal year disappoints Wall Street. The software giant announced a $10 billion increase in its stock repurchase program and initiated a quarterly dividend of 40 cents a share. Salesforce reported revenue of $9.29 billion for the fiscal fourth quarter, up 11% from the year-ago quarter, and expects revenue of $37.7 billion to $38 billion for the January 2025 fiscal year, below consensus. The company's stock is down 3.7% in late trading.
Stellantis reported strong full-year results with increased revenue and global deliveries, leading to a stock surge following the announcement of a new share buyback plan and increased dividend. The company warned of a "turbulent" year ahead due to factors like the impact of the EV product mix, lower prices, and labor costs. Despite this, Stellantis remains resilient and projected a minimum commitment of double-digit adjusted operating income margin in 2024 and positive industrial cash flow. The automaker's measured approach to EVs, including leading PHEV sales in the US and a flexible EV game plan, is paying off, with CEO Carlos Tavares emphasizing the importance of profitability and competition from China.
The University of Minnesota is in talks to repurchase its teaching hospital from Fairview Health Services, a move that would allow the university to regain control of its academic medical center. The university sold the hospital to Fairview in 1997, but now aims to buy it back to strengthen its academic and research missions. The potential buyback is part of a broader trend of academic medical centers seeking to regain control of their hospitals from larger health systems.
Uber has reported its first full-year operating profit, raising hopes for a potential share buyback as the company's financial performance improves.
Alibaba missed third-quarter revenue estimates due to softness in the retail market and China's slow economic recovery, but announced a $25 billion increase to its share repurchase program. The company's net income decreased by 77%, and it is undergoing a business split into six units overseen by CEO Eddie Wu and Chairman Joe Tsai. Alibaba is facing pressure from domestic e-commerce competitors and is looking to sell consumer sector assets, while its International Digital Commerce segment, including AliExpress, performed strongly with a 60% rise in orders.
A Rivian R1T owner drove 24,000 miles in 15 months, using the electric truck for work purposes. However, the vehicle experienced multiple breakdowns due to drive system and parking brake errors. Despite the issues, the owner praised Rivian's customer service for promptly arranging tow trucks and providing rental cars. After unsuccessful attempts to resolve the problems, the owner reached an agreement with Rivian to buy back the R1T at full price. Although the owner considers his case isolated, he still recommends Rivian's electric pickup and appreciates features like the bed-mounted electrical outlets and Gear Tunnel.
Billy Busch, the heir to the Anheuser-Busch company, has expressed his willingness to buy back the company from its parent company, InBev, and "make that brand great again." He criticized the current management for their marketing blunders and lack of understanding of their core customers. Busch believes that under his family's ownership, Anheuser-Busch had strong relationships with its customers and would like to restore the brand to its former glory.
Kim Kardashian is reportedly in talks to repurchase a stake in her beauty business from Coty Inc., the multinational beauty company that acquired a majority stake in her brand last year. The discussions come as Coty looks to streamline its portfolio and focus on its core brands. If successful, the buyback would allow Kardashian to regain control over her beauty empire.
Apple is expected to announce updates to its dividend and buyback programs during its earnings report on Thursday, potentially resulting in a big payday for investors. The move comes as executives aim to balance the company's cash on hand with its debt.