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Stocks Stock Buybacks

  • SEOUL, July 27- Samsung Electronics Co Ltd on Thursday said it expected the memory chip boom to continue in the current quarter, after reporting a record operating profit for the three months through June. The company on Thursday also announced its third share buyback of the year, at 1.7 trillion won worth of common shares, as part of the 9.3 trillion won annual...

  • OMAHA, Neb.— Norfolk Southern's second-quarter profit surged 23 percent as the railroad hauled 6 percent more freight and coal demand increased. Norfolk Southern CEO Jim Squires said the railroad decided to increase its budget for repurchasing stock this year by 25 percent to $1 billion because of the strong results. Norfolk Southern said its coal revenue...

  • With a backlog of orders approaching a half trillion dollars, Boeing said that it will buy back $10 billion of its own stock this year, making the remaining shares more valuable, and reduce its taxes by paying down its pension liability. The shares jumped $20.99, or 9.9 percent, to close at $233.45. The Chicago company and European rival Airbus figure to benefit for...

  • SLS owned 0.84 percent of Abercrombie's shares outstanding as of March 31, according to Thomson Reuters data. New Albany, Ohio- based Abercrombie operates around 700 stores in the United States and nearly 200 more internationally. The retailer could buy back $200 million of stock while slashing its annual dividend to 18 cents from the current 80 cents, SLS said.

  • DETROIT, July 18- CSX Corp, the third-largest U.S. railroad operator, posted a better-than-expected rise in quarterly net profit on Tuesday, helped by improved coal shipments, and the company also announced a $500 million increase to its share repurchase program. The Jacksonville, Florida- based railroad said second-quarter revenue rose 8 percent, on growth...

  • The company's adjusted gross margin rose 130 basis points to 29 percent for the fourth quarter ended May 28, while Wall Street was expecting a 140 basis point increase, according to J.P. The maker of popular snack brand ACT II also said it would buy back an additional $1 billion in shares, taking its repurchase authorization to about $1.38 billion.

  • June 29- Chef Boyardee pasta maker Conagra Brands Inc reported a 29 percent rise in quarterly profit as it cut back on promotions and jettisoned low-margin products. The company also said it would buy back an additional $1 billion in shares, taking its repurchase authorization to about $1.38 billion. Net income attributable to the company rose to $151.3...

  • The Federal Reserve Building in Washington, D.C.

    CNBC's Kayla Tausche reports 34 of the nation's largest banks are getting the green light for buybacks and dividends.

  • TOKYO, June 29- Share buy-backs by Japanese companies are sharply down from last year despite rising profits, suggesting that Japan Inc's commitment to raising shareholder returns could be waning. "At high stock price levels, some companies are refraining from buying back their own shares," said Makoto Sengoku, a market analyst at Tokai Tokyo Research Institute.

  • WASHINGTON/ NEW YORK, June 28- The Federal Reserve has approved plans from the 34 largest U.S. banks to use extra capital for stock buybacks, dividends and other purposes beyond being a cushion against catastrophe. Fed Governor Jerome Powell, who is acting as regulatory lead for the U.S. central bank, said the process "has motivated all of the largest banks to achieve...

  • WASHINGTON/ NEW YORK, June 28- The Federal Reserve has approved plans from the 34 largest U.S. banks to use extra capital for stock buybacks, dividends and other purposes beyond being a cushion against catastrophe. Fed Governor Jerome Powell, who is acting as regulatory lead for the U.S. central bank, said the process "has motivated all of the largest banks to achieve...

  • June 28- Citigroup Inc said it plans to repurchase up to $15.6 billion of common stock over the next 12 months and double its quarterly dividend to 32 cents per share, bringing total payouts to $18.9 billion. Citigroup, the fourth-biggest U.S. bank by assets, announced its intentions after the U.S. Federal Reserve said on Wednesday that it would permit the company...

  • WASHINGTON/ NEW YORK, June 28- The Federal Reserve has approved plans from the 34 largest U.S. banks to use extra capital for stock buybacks, dividends and other purposes beyond a cushion against possible catastrophe. Fed Governor Jerome Powell, who is acting as regulatory lead for the U.S. central bank, said the process "has motivated all of the largest banks to...

  • *Nestle to repurchase up to $20.8 billion in shares by June 2020. LONDON/ ZURICH, June 27- Nestle plans to buy back as much as 20 billion Swiss francs worth of shares over three years, it said on Tuesday, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company. The New York- based hedge fund, controlled by billionaire...

  • *Nestle to repurchase up to $20.8 billion in shares by June 2020. LONDON/ ZURICH, June 27- Nestle plans to buy back as much as 20 billion Swiss francs worth of shares over three years, it said on Tuesday, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company. The New York- based hedge fund, controlled by billionaire...

  • *Nestle to repurchase up to $20.8 billion in shares by June 2020. ZURICH, June 27- Nestle announced plans to buy back as much as 20 billion Swiss francs worth of shares over three years, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company. The New York- based hedge fund, controlled by billionaire investor Daniel...

  • ZURICH, June 27- Nestle plans to buy back as much as 20 billion Swiss francs worth of shares by June 2020, the Swiss food giant said on Tuesday as it responds to pressure brought by U.S. activist shareholder Third Point LLC. The New York- based hedge fund, controlled by billionaire investor Daniel Loeb, disclosed a $3.5 billion stake in the company on Sunday and is...

  • June 26- Nestle is under pressure from U.S. activist shareholder Third Point, which has taken a $3.5 billion stake in the food maker and is pushing Europe's largest company to improve margins, buy back shares and get rid of non-core businesses. Nestle shares jumped as much as 4.8 percent on Monday, touching a record high as investors hoped that Third Point's stake,...

  • By Michael Erman and Martinne Geller. June 26- Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve margins, buy back stock and shed non-core businesses. Third Point disclosed the Nestle position in a letter to the hedge fund's...

  • June 25- Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. The 3.28 billion Swiss francs stake is the largest ever taken by the hedge fund, which pressed for change in...