Core & Main shares are trading higher after the company announced a $500 million share repurchase program.
Portfolio Pulse from Benzinga Newsdesk
Core & Main shares are trading higher following the announcement of a $500 million share repurchase program.
June 12, 2024 | 4:43 pm
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POSITIVE IMPACT
Core & Main announced a $500 million share repurchase program, leading to a rise in its stock price.
Share repurchase programs typically signal confidence from the company in its own stock and can lead to a reduction in the number of shares outstanding, which often boosts the stock price. The market has reacted positively to this announcement, as evidenced by the rise in CNM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100