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Share Repurchase Program

All articles tagged with #share repurchase program

business1 year ago•3 min saved

"FedEx's Profit Soars on Cost-Cutting, Stock Hits 3-Year High"

FedEx's third quarter report showed a beat on profits and a slight revenue miss, with adjusted EPS exceeding expectations at $3.86. The company's cost-cutting plan, aiming to cut nearly $2 billion in costs by the end of the fiscal year, has contributed to its progress and improved profitability in a challenging demand environment. Additionally, FedEx announced a $5 billion share repurchase program, leading to a positive market reaction with shares trading higher in the premarket.

via Yahoo Finance|

#business #cost-cutting #fedex

business1 year ago•1 min saved

FedEx Surges on Strong Earnings and Margin Improvement

FedEx's shares surged in premarket trading after the company beat estimates for quarterly profit and reported a higher operating margin at its Express unit. The company has taken measures to protect margins at Express, including reducing flight hours and efforts to fly fewer jets. FedEx also announced plans to buy back $500 million worth of its shares in the current quarter and approved a new $5-billion share repurchase program. The firm tightened its annual profit forecast and now expects earnings in the range of $17.25 to $18.25 per share. At least four brokerages raised their price targets on the stock, with shares of FedEx trading at 12.72 times forward profit estimates.

via Yahoo Finance|

#business #express-unit #fedex

finance1 year ago•2 min saved

Marvell Technology (MRVL) Shares Plunge Amidst Market Turbulence

Marvell Technology (MRVL) shares plunged 16.9% after reporting fourth-quarter results and providing revenue and EPS guidance below analysts' expectations, driven by underperformance in Carrier infrastructure and Auto/Industrial segments. Data Center segment showed strong growth, benefiting from AI demand, but the overall results fell short of high expectations. The company also announced a $3 billion increase to its share repurchase program. The market's perception of the business has been significantly impacted, and the stock is currently trading 10.8% below its 52-week high.

via Yahoo Finance|

#earnings-report #finance #marvell-technology