RSS Updates
Email UpdatesCoach (NYSE:COH) has decided that the recent stock crush is a good opportunity to announce a $1 Billion share buyback plan. This represents roughly 30 million shares, or 5-times average volume; $12 Billion market cap.
Fair Isaac (NYSE:FIC) approved a $250 million share buyback plan, compared to a market cap of $2 Billion.
Mirant Corp. (NYSE:MIR) had one of the more impressive buybacks and share retirement plans announced, although its shares fell 8% because of losses. Mirant’s total return plan is some $4.6 Billion, which includes $1 Billion in open market purchases and a $ 1Billion accelerated buyback plan. This has been under review for the Special Situation Investing Newsletter.
Avocent Corp. (NASDAQ:AVCT) added 3 million shares to its stock repurchase program; Avocent has repurchased 11.2 million shares of the 12 million shares previously approved. The buyback equates to $75 million more in buybacks if completed, compared to a $1.25 Billion market cap and it represents about 8 days of trading volume.
Starwood Hotels & Resorts (NYSE:HOT) raised its dividend and added $1 Billion to share buybacks, compared to a $10.5 Billion market cap. This one has also been under review for the Special Situation Investing Newsletter.
