All articles tagged with #stock repurchase
TKO plans to repurchase $1 billion of its own stock through an accelerated share repurchase agreement and open market purchases, funded by a $1 billion first lien term loan, reflecting confidence in its business and a commitment to shareholder value, alongside an increased quarterly dividend.
Bank of America has authorized a new $40 billion stock repurchase program starting August 1, replacing the previous authorization with $9.1 billion remaining, supported by its strong capital position as noted by the Federal Reserve.
lululemon athletica inc. reported a 10% increase in revenue to $2.2 billion for Q1 fiscal 2024, with strong international growth and a 6% rise in comparable sales. The company also announced a $1.0 billion increase in its stock repurchase program. CEO Calvin McDonald highlighted the brand's global resonance and product innovation, while CFO Meghan Frank emphasized strategic investments and the company's growth strategy. The board approved a $1.0 billion increase in the stock repurchase program, leaving $1.7 billion authorized for future repurchases.
Vince McMahon has sold $311 million worth of TKO shares back to the company and Endeavor, bringing his total earnings from stock sales to about $1.5 billion. This comes after his resignation from the board of TKO Group in January 2024 amidst sexual assault and sex trafficking allegations, which he has strongly denied. Meanwhile, WWE's WrestleMania 40 marked the highest-selling single night in WWE history with in-person attendance of 72,755, and Stephanie McMahon made a surprise appearance at the event. Endeavor, which recently announced a deal to go private with private-equity firm Silver Lake, is not including TKO Group in the transaction and it will remain a publicly traded company.
JD.com Inc. has approved a $3 billion stock buyback program after reporting a 3.6% increase in revenue, surpassing analyst expectations. The company's revenue growth was attributed to a wider product range and price reductions targeting cost-conscious Chinese consumers. The move aims to address concerns about the company's growth potential. JD.com's net income for the December quarter fell short of estimates, amid challenges in China's economic landscape. The e-commerce giant is also considering overseas expansion, including a potential acquisition of UK electronics retailer Currys Plc.
Alibaba approved a $25 billion stock repurchase program in an effort to reassure investors concerned about slowing growth and increased competition in the Chinese e-commerce and cloud computing markets. Despite this, the company's US-traded shares fell 6% as investors remain worried about declining Chinese consumption and per-user spending. Alibaba is also undergoing a complex restructuring, including plans to sell off non-core assets and refocus on its core e-commerce and cloud computing businesses. The company's executives pledged to aggressively return money to shareholders and target buying back 3% of outstanding stock annually.
Meta Platforms is set to raise $8.5 billion in a five-part bond offering, with the longest 40-year security yielding 192 basis points over Treasuries. The funds will be used to finance capital expenditures, repurchase outstanding shares of its common stock, and for acquisitions or investments. This is the company's second bond offering after raising $10 billion last year.