© Reuters. Today’s Most Important Buybacks
By Davit Kirakosyan
FedEx Corp. (NYSE:) shares rose more than 5% today following the company’s announced accelerated share repurchase agreement (ASR) with Morgan Stanley & Co. LLC as part of its previously announced share repurchase program. Under the terms of the agreement, the company has agreed to repurchase an aggregate of $1.5 billion of its common stock from Morgan Stanley, with an initial delivery of approximately 7.9 million shares based on current market prices.
AutoZone, Inc. (NYSE:) made an announcement today, according to which its Board of Directors authorized an additional $2.5 billion repurchase of the company’s common stock in connection with its ongoing share repurchase program.
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