Bristol Myers Squibb Plans Additional $3B Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
Bristol Myers Squibb has announced an additional $3 billion share repurchase authorization, bringing the total outstanding authorization to approximately $5 billion.

December 07, 2023 | 11:31 am
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POSITIVE IMPACT
Bristol Myers Squibb's additional $3 billion share repurchase program may lead to a positive short term impact on its stock price due to the reduction in outstanding shares and potential EPS increase.
Share repurchase programs often lead to a positive market reaction as they can indicate a company's belief that its shares are undervalued and improve earnings per share (EPS) by reducing the number of shares outstanding. This announcement from Bristol Myers Squibb is likely to be viewed positively by investors, potentially leading to a short term increase in the stock price.
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IMPORTANCE 85
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