Tenet Healthcare (THC) Misses numbers and forecasts. Down to $2.52 from 52-week high of $6.88.
Herbalife (HLF) Bad outlook equals three-year low. Falls to $17.23 from 52-week high of $51.09.
Health Net (HNT) Nice eight-year low on bad earnings and forecast. The daily double. Sells off to $9.57 from 52-week high of $52.96.
FCStone Group (FCSX) Last quarter hurt by commodities prices. Plunges to $2.90 from 52-week high of $53.25.
Douglas A. McIntyre
These are 10 of the top calls that 247WallSt.com is looking at this morning:
Jon C. Ogg
April 16, 2008
Today we continued to see companies announcing new or adding to existing share buyback plans. These were the main announcements, although it may be worth noting that this does not include companies that have repurchased shares in the open market. Below is a list of the buyback plans and some add-on notes with explanations or exceptions:
Herbalife Ltd. (NYSE:HLF) said it was increasing its share buyback plan by $150 million to $450 million. Of course it has requested an increase of $150 million in the revolving credit commitments pursuant to its existing Credit Agreement dated July 21, 2006. Including this increase, the company would have aggregate revolving credit commitments of $250 million. The company is pursuing this borrowing facility increase on a best efforts basis and expects it to be concluded by September 15, 2007. Since authorization of the share repurchase program on April 17, 2007, the company has repurchased 5.2 million shares for an aggregate of $204 million, representing approximately 7 percent of the fully diluted share base as of that date.
Gap Inc. (NYSE:GPS) has added $1.5 Billion to its share buyback plan after earnings today, although an accelerated buyback looks like it will be to the founders. The company expects that about $250 million (17%) of the $1.5 billion share repurchase program will be purchased from these Fisher family members.
Westamerica Bancorporation (NASDAQ: WABC), parent company of Westamerica Bank, announced that its Board of Directors approved a plan to repurchase, as conditions warrant, up to two million shares of the Company’s common stock on the open market or in privately negotiated transactions from time to time prior to September 1, 2008. The repurchase plan represents approximately 6.8% of the Company’s common stock outstanding as of July 25, 2007, and the plan replaces the existing two million-share stock repurchase program, under which 576,000 remained available to purchase as of June 30, 2007.
This morning Journal Communications, Inc. (NYSE:JRN) announced that it has repurchased 3,200,000 shares of class B common stock from the Company’s founding family shareholder, Matex Inc., at $10.00 per share, for a total of $32.0 million.
Jon C. Ogg
August 23, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Tonight on CNBC’s Mad Money, Jim Cramer said he was ready to eat crow over Herbalife (HLF-NYSE) because it is a supplement company that he got wrong. It sells via Multi-level marketing and that uses 3rd party manufacturers. He thought it was bad, but now he says that this one deserves to trade higher rather than lower. The earnings were better and guidance in-line, plus they just got approval to market in 2 Chinese provinces. It has high margins and strong cash flow. They rejected a $38.00 bid from J.H.Whitney, so this should have a fairly clear floor. It also has a large buyback and a decent dividend. A new CEO cut down some of the distributors down.
This one traded up 2.4% to $40.34 in after-hours, after closing up 0.4% at $39.39 today. The 52-week trading range is $27.73 to $42.54.
Jon C. Ogg
May 15, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
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