5 big stock buybacks: Apple’s $90B bonanza; a new $3B repurchase at MetLife

This post was originally published on this site

https://i-invdn-com.investing.com/news/LYNXMPED9U0NH_M.jpg

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.

InvestingPro dispatches news like this in real time. Start your 7-day free trial.

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 (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.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

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.

Amid a firehose of market-moving news, seize on the right real-time headlines to pocket bigger profits: Always be the first to know with InvestingPro.

Start your free 7-day trial now.

InvestingPro | Be The First To Know