Lululemon Athletica Inc. (LULU) stock surged after reporting better-than-expected Q3 results and announcing a significant increase to its share buyback program. Analysts have responded positively, raising price targets across the board, citing strong growth potential domestically and internationally.
Aegon Ltd. saw its shares climb on Friday after reporting robust third-quarter results, including increased operating capital generation and a raised full-year guidance for 2024. The company also announced a new share buyback program and detailed its strategic plans for future growth.
Jet.AI Inc. (JTAI) stock is seeing a significant rise today after the company announced a $2 million share repurchase program and withdrew its S-1 registration for a prospective offering. The buyback program aims to capitalize on undervalued share prices, while the S-1 withdrawal reflects the company’s focus on meeting Nasdaq listing requirements.
Griffon Corporation (GFF) stock surged over 10% after reporting better-than-expected fourth-quarter earnings, driven by strong revenue growth, expanded EBITDA margins, and a significant increase in share repurchases. The company also announced a 20% hike in its quarterly dividend, signaling confidence in its future prospects.
Anheuser-Busch InBev (BUD) reported solid third-quarter earnings, beating analyst expectations on EPS but missing on revenue. The company’s top-line growth was fueled by premiumization and revenue management efforts, leading to increased market share in several regions. Despite a slight decline in overall volume, the company raised its 2024 outlook and announced a $2 billion share buyback program. However, BUD shares are trading lower today due to concerns about the global macroeconomic environment.
ConocoPhillips exceeded analysts’ expectations for its third-quarter earnings, reporting strong revenue and adjusted earnings per share. The company also announced a significant dividend increase, a boosted share buyback program, and an optimistic production outlook. These positive developments have sent COP shares soaring in pre-market trading.
Italian energy giant ENI S.p.A. has reported a 14% year-over-year decline in its third-quarter pro forma adjusted EBIT, primarily attributed to lower oil prices. However, the company also announced an increase in its share buyback program and a new partnership to explore the development of lithium-iron-phosphate batteries for energy storage and electric vehicles.
BofA Securities analyst Lorraine Hutchinson reaffirms a Neutral rating on Ulta Beauty, Inc. (ULTA) with a price target of $380. While the analyst lowered the FY25 EPS estimate due to anticipated slower growth, the company remains optimistic about its long-term prospects, emphasizing initiatives to strengthen its market position and reignite growth. Ulta Beauty also announced a new $3 billion share buyback program, projected to contribute significantly to EPS growth.
Indian stock markets reached new highs, fueled by strong performances from automakers. Accenture announced a $4 billion share buyback, reflecting robust demand for AI technology. Meanwhile, political tensions escalated as Sanjay Raut was sentenced to jail for defamation, and Karnataka withdrew its consent for CBI investigations, citing bias. The Supreme Court dismissed a review plea regarding the Bilkis Bano case, and Israel rejected a ceasefire proposal in its conflict with Hezbollah.
Southwest Airlines is boosting investor confidence with a new $2.5 billion share repurchase program, cost-cutting measures, and a new seat assignment strategy. The airline expects significant earnings growth and cost savings in the coming years, leading to a positive pre-market stock surge.
