Thermo Fisher Scientific shares are trading higher after the company on Tuesday announced it authorized a $4 billion share repurchase.
Portfolio Pulse from Benzinga Newsdesk
Thermo Fisher Scientific has authorized a new $4 billion share repurchase program, which has led to an increase in its stock price.
November 15, 2023 | 3:33 pm
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POSITIVE IMPACT
Thermo Fisher Scientific's stock is likely to experience a positive short term impact due to the announcement of a $4 billion share repurchase program.
Share repurchase programs often lead to a positive short term reaction in the stock market as they can indicate a company's confidence in its own financial health and future prospects. It also reduces the number of shares outstanding, potentially increasing earnings per share and the stock's value.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100