Watsco shares are trading lower after the company reported worse-than-expected Q2 financial results. Also, the company authorized a share repurchase program for $600 million.
Portfolio Pulse from Benzinga Newsdesk
Watsco shares are trading lower after the company reported worse-than-expected Q2 financial results. Additionally, the company authorized a $600 million share repurchase program.
July 30, 2024 | 3:46 pm
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Watsco reported worse-than-expected Q2 financial results, leading to a decline in share price. The company also authorized a $600 million share repurchase program.
The worse-than-expected Q2 financial results are likely to negatively impact Watsco's stock price in the short term. However, the authorization of a $600 million share repurchase program may provide some support to the stock price, but the immediate reaction is expected to be negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100