By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of the biggest share-buyback announcements you may have missed last week: news from Apple, MetLife, Murphy USA, CNO Financial, and Boyd Gaming.
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Apple announces $90 billion stock buyback & hikes dividend
Apple (NASDAQ:AAPL) announced an additional program to repurchase up to $90 billion of its common stock.
The company reported a Q1/23 earnings beat, highlighted by stronger-than-expected iPhone sales, as well as hiked its dividend by 4.3%. iPhone revenue, which represents more than 50% of total revenue, increased to $51.33B, beating the consensus estimate of $48.84B.
As a result, shares closed more than 4% higher on Friday.
MetLife announces $3B buyback program, shares plunge on Q1 miss
MetLife (NYSE:MET) approved a new $3B share buyback program, which is incremental to the $202 million remaining under its prior authorization announced in May 2022.
Shares dropped more than 7% on Thursday after the company reported worse-than-expected Q1 earnings results.
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3 more buybacks
Murphy USA (NYSE:MUSA) announced a new share repurchase authorization of up to $1.5B, which will begin upon completion of the current $1B buyback program and will be executed by December 31, 2028.
CNO Financial Group (NYSE:CNO) announced an additional $500M stock buyback program. The company had approximately $172M of remaining repurchase capacity as of the end of March.
Boyd Gaming Corporation (NYSE:BYD) said its Board of Directors authorized an additional $500M under the company’s share repurchase program.
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