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BUSINESS
December 10, 2008 | Times Wire Reports
Wal-Mart Stores Inc. said it had suspended its share-repurchase program, citing the economy and "instability in credit markets." The world's largest retailer, based in Bentonville, Ark., said it had bought back about $10 billion of the $15 billion of shares authorized by the board May 31, 2007. The regulatory filing comes after Wal-Mart Chief Financial Officer Thomas Schoewe told analysts Oct. 28 that the company had decided to "step back on share repurchases." Wal-Mart shares fell $1.75, or 3%, to $55.81.
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BUSINESS
April 24, 2014 | By Chris O'Brien
Big earnings. Big stock buyback. Big stock bump. On Thursday, investors cheered Apple's performance by sending its stock up by as much as 8.5% in early trading.  The stock climbed to $ 569.50 at one point early Thursday, up from $524.75 the previous day.  Riding a wave of strong iPhone sales, Apple on Wednesday reported fiscal second-quarter revenue of $45.6 billion, well above analysts' consensus of $43.6 billion, and up from the...
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BUSINESS
May 26, 2000 | Dow Jones
CorVel Corp. said Thursday that its board authorized the repurchase of up to 1 million more shares of the Irvine company's 7.86 million shares of common stock outstanding. The company, which provides managed care services, said it plans to consider share repurchases when its cash balances exceed internal needs. CorVel shares lost 25 cents Wednesday to close at $27.25 a share in Nasdaq trading.
BUSINESS
September 14, 2011 | Reuters
Best Buy Co. reported weaker-than-expected quarterly results and cut its profit outlook for the year as shoppers held off on buying televisions and other nonessential items in the anemic U.S. economy. The Tuesday announcement highlighted the fragility of recovery in the world's largest economy. Best Buy said that profit in the year will be as much as $3.45 a share, excluding share repurchases, down from its earlier forecast of as much as $3.55 a share. It still expects revenue of $51 billion to $52.5 billion.
BUSINESS
May 9, 2008 | From Times Wire Services
California Pizza Kitchen Inc. posted lower first-quarter profit but raised its outlook for the full year. Net income at the Los Angeles-based restaurant operator fell to $2.5 million, or 9 cents a share, from $3.6 million, or 12 cents, a year earlier. Sales grew more than 10% to $164.7 million. Sales at restaurants open at least 18 months were up 0.4%. Same-store sales are a widely used gauge of the health of restaurants and retail stores. The company raised its outlook for the year, forecasting earnings of 59 cents to 65 cents a share, including a 2-cent gain from stock buybacks.
BUSINESS
April 24, 2014 | By Chris O'Brien
Big earnings. Big stock buyback. Big stock bump. On Thursday, investors cheered Apple's performance by sending its stock up by as much as 8.5% in early trading.  The stock climbed to $ 569.50 at one point early Thursday, up from $524.75 the previous day.  Riding a wave of strong iPhone sales, Apple on Wednesday reported fiscal second-quarter revenue of $45.6 billion, well above analysts' consensus of $43.6 billion, and up from the...
BUSINESS
March 29, 1988 | From Reuters
RJR Nabisco Inc., awash with profits from its cigarette and consumer products units, said Monday that its board approved a plan to buy back more than $1 billion of its own shares. The company said it will hold a tender offer for up to 20 million shares at a price of not less than $52, nor more than $58, per share in cash. The offer is valued at somewhere between $1.04 billion and $1.16 billion, depending on the price eventually paid.
BUSINESS
September 14, 2011 | Reuters
Best Buy Co. reported weaker-than-expected quarterly results and cut its profit outlook for the year as shoppers held off on buying televisions and other nonessential items in the anemic U.S. economy. The Tuesday announcement highlighted the fragility of recovery in the world's largest economy. Best Buy said that profit in the year will be as much as $3.45 a share, excluding share repurchases, down from its earlier forecast of as much as $3.55 a share. It still expects revenue of $51 billion to $52.5 billion.
BUSINESS
August 31, 2010 | Bloomberg News
Hewlett-Packard Co., the world's largest maker of personal computers and printers, said Monday that its board had approved an additional $10 billion for share repurchases. The move adds to $4.9 billion already available and will help offset dilution from employee stock purchases, HP said. The company will repurchase at least $3 billion in shares in the fourth quarter ending in October, interim Chief Executive Cathie Lesjak said in a statement. The Palo Alto company is in a bidding war with Dell Inc. for data storage provider 3Par Inc. of Fremont.
BUSINESS
February 2, 2011
Avery Dennison Corp., a maker of adhesives for everything from beverage labels to apparel tags and road signs, said on Wednesday its fourth-quarter profit more than doubled on sales gains at its two biggest business segments. The Pasadena-based company also said its board raised the quarterly dividend by 25 percent, and authorized additional share repurchases. For the three months ended Jan. 1, Avery Dennison reported net income of $114.2 million, or $1.06 per share, compared with a profit of $49.9 million, or 47 cents per share, in the same quarter a year ago. Excluding items such as restructuring and asset impairment charges, Avery Dennison reported a profit of $105.
BUSINESS
February 2, 2011
Avery Dennison Corp., a maker of adhesives for everything from beverage labels to apparel tags and road signs, said on Wednesday its fourth-quarter profit more than doubled on sales gains at its two biggest business segments. The Pasadena-based company also said its board raised the quarterly dividend by 25 percent, and authorized additional share repurchases. For the three months ended Jan. 1, Avery Dennison reported net income of $114.2 million, or $1.06 per share, compared with a profit of $49.9 million, or 47 cents per share, in the same quarter a year ago. Excluding items such as restructuring and asset impairment charges, Avery Dennison reported a profit of $105.
BUSINESS
December 15, 2010
ZURICH-- Novartis has wrapped up its long-awaited buyout of the remainder of U.S.-listed Alcon Inc. for $12.9 billion, after sweetening its original offer with cash. The Swiss drugmaker is hoping the Alcon deal, worth some $52 billion in total, will help it diversify and protect it against patent loss on big selling medicines such as blood pressure drug Diovan. Novartis has been trying to clinch 100 percent ownership in Alcon since the start of the year, but its original all-paper offer of 2.8 Novartis shares for each Alcon share met stiff resistance from Alcon's Independent Director Committee (IDC)
BUSINESS
August 31, 2010 | Bloomberg News
Hewlett-Packard Co., the world's largest maker of personal computers and printers, said Monday that its board had approved an additional $10 billion for share repurchases. The move adds to $4.9 billion already available and will help offset dilution from employee stock purchases, HP said. The company will repurchase at least $3 billion in shares in the fourth quarter ending in October, interim Chief Executive Cathie Lesjak said in a statement. The Palo Alto company is in a bidding war with Dell Inc. for data storage provider 3Par Inc. of Fremont.
BUSINESS
December 10, 2008 | Times Wire Reports
Wal-Mart Stores Inc. said it had suspended its share-repurchase program, citing the economy and "instability in credit markets." The world's largest retailer, based in Bentonville, Ark., said it had bought back about $10 billion of the $15 billion of shares authorized by the board May 31, 2007. The regulatory filing comes after Wal-Mart Chief Financial Officer Thomas Schoewe told analysts Oct. 28 that the company had decided to "step back on share repurchases." Wal-Mart shares fell $1.75, or 3%, to $55.81.
BUSINESS
May 9, 2008 | From Times Wire Services
California Pizza Kitchen Inc. posted lower first-quarter profit but raised its outlook for the full year. Net income at the Los Angeles-based restaurant operator fell to $2.5 million, or 9 cents a share, from $3.6 million, or 12 cents, a year earlier. Sales grew more than 10% to $164.7 million. Sales at restaurants open at least 18 months were up 0.4%. Same-store sales are a widely used gauge of the health of restaurants and retail stores. The company raised its outlook for the year, forecasting earnings of 59 cents to 65 cents a share, including a 2-cent gain from stock buybacks.
BUSINESS
September 15, 2000 | From Reuters
Ford Motor Co., acting to reassure investors who have driven its stock down 13% since the Firestone tire recall, on Thursday announced a $5-billion share repurchase, its largest buyback program ever. The buyback plan came at the time directors of the world's No. 2 auto maker, meeting for the first time since the Aug. 9 recall, solidly backed management efforts to deal with the enveloping crisis that has tarnished the company's image.
BUSINESS
January 21, 1996 | RUSS WILES, RUSS WILES, a financial writer for the Arizona Republic, specializes in mutual funds
American companies seem to have discovered what good investments their own shares can be, and this realization may be helping to keep the stock market afloat. The amount of stock removed from the market has been rising of late due to mergers, acquisitions and, especially, corporate share buybacks.
BUSINESS
August 24, 1990 | LINDA DARNELL WILLIAMS, TIMES STAFF WRITER
In actions reminiscent of developments after the October, 1987, market crash, many companies this week have announced plans to buy back shares of their stock to take advantage of falling prices. The spate of buyback announcements, including those Thursday from the Federal National Mortgage Assn. (Fannie Mae) and Santa Clara-based chip maker Intel, reflected the market's retreat in the face of jitters over the Persian Gulf crisis.
BUSINESS
May 26, 2000 | Dow Jones
CorVel Corp. said Thursday that its board authorized the repurchase of up to 1 million more shares of the Irvine company's 7.86 million shares of common stock outstanding. The company, which provides managed care services, said it plans to consider share repurchases when its cash balances exceed internal needs. CorVel shares lost 25 cents Wednesday to close at $27.25 a share in Nasdaq trading.
BUSINESS
August 27, 1997
CardioVascular Dynamics Inc. said Tuesday that it has repurchased 200,000 shares of its common stock in an open-market transaction. The company, which makes catheters, coronary stents and other vascular devices, announced in May that its board had authorized the repurchase of up to 700,000 common shares. The stock, which hit a 52-week high of $17.50 last September, closed Tuesday at $8.25 a share, up 75 cents, on the Nasdaq market.
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