Shares of Marvell Technology Group Ltd. (MRVL) are on fire this morning after the company delivered solid quarterly earnings and announced a stock buyback.
Marvell Technology Group Ltd. will need to hold the 50 day moving average located at $16.45. If Marvell can close above this level, the next major resistance level is located at $17.90.
Marvell Technology Group Ltd. Reports Second Quarter of Fiscal 2011 Results
Marvell (Nasdaq: MRVL - News), a global leader in integrated silicon solutions today reported financial results for the second quarter of fiscal 2011, ended July 31, 2010.
Net revenue for the second quarter of fiscal 2011 was $896 million, a 40 percent increase from $641 million in the second quarter of fiscal 2010, ended August 1, 2009, and a 5 percent sequential increase from $856 million in the first quarter of fiscal 2011, ended May 1, 2010.
GAAP net income was $220 million, or $0.33 per share (diluted), for the second quarter of fiscal 2011, compared with a GAAP net income of $58 million, or $0.09 per share (diluted), for the second quarter of fiscal 2010. GAAP net income in the first quarter of fiscal 2011 was $206 million, or $0.30 per share (diluted)
Share Repurchase Program
Marvell also announced today that its Board of Directors has authorized a program to repurchase up to $500 million of its outstanding common shares, depending on market conditions and other factors.
http://www.marvell.com/company/news/press_detail.html?releaseID=1432
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Showing posts with label stock buyback plan. Show all posts
Showing posts with label stock buyback plan. Show all posts
Friday, August 20, 2010
Sunday, March 28, 2010
Starbucks Corp SBUX Dividend Stock Buyback April 2010
Starbucks Corp (SBUX) came out with huge news last week that might have gotten lost with other news such as the health care bill.
Last Wednesday, Starbucks Corp came out with a press release that investors have never seen before. The company is declaring their first ever dividend!
Howard Schultz has completely turned this company around and back into a winning franchise again. Howard Schultz regained the CEO title back in January 2008 and vowed to make improvements. Since taking over, Starbucks Corp is up around 40%.
Starbucks Announces First Ever Cash Dividend; Authorizes Additional Share Buyback
Company to Outline its Strategy for Profitable Growth at Annual Meeting of Shareholders
Starbucks Corporation(NASDAQ:SBUX)today announced that its Board of Directors has approved the initiation of a cash dividend to its shareholders. The quarterly dividend of $0.10 per share will be paid on April 23, 2010, to shareholders of record on the close of business on April 7, 2010. While future dividends will be subject to Board approval, Starbucks announced that it is initially targeting a dividend payout range of 35 percent to 40 percent of net income.
Starbucks Board of Directors has also authorized the repurchase of 15 million shares of the Company's common stock. This authorization is in addition to 6.3 million shares that remain available for repurchase under previous authorizations. Full Press Release
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Monday, September 22, 2008
ABK Ambac Stock 9/22/08 - Moody's threatens to Downgrade
Shares of Ambac Financial Group ( ABK ) plunged 42 percent in heavy volume Friday, a day after Moody's said it might downgrade the bond insurer's ratings. This morning in pre market trading, ABK is set to $3.30...or another 10%
After markets closed on Friday, Ambac put out a statement saying it would suspend its $50 million stock buyback plan and postpone an $850 million contribution to Connie Lee, its new financial-guarantee subsidiary. Ambac also said any potential downgrade would pressure its business in the near term.
Keep this stock on your radars.......
After markets closed on Friday, Ambac put out a statement saying it would suspend its $50 million stock buyback plan and postpone an $850 million contribution to Connie Lee, its new financial-guarantee subsidiary. Ambac also said any potential downgrade would pressure its business in the near term.
Keep this stock on your radars.......
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