Visitors Now:
Total Visits:
Total Stories:
Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Facebook Just Announced A Massive $6 Billion Buyback

Friday, November 18, 2016 14:57
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Social media behemoth Facebook Inc (NASDAQ:FB) late Friday announced a gigantic new share repurchase plan.

The company’s Board of Directors the buyback of $6 billion of its Class A common stock. The program goes into effect in Q1 of 2017, without any sort of fixed expiration.

Facebook commented via press release:

The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The program will be executed consistent with the Company’s capital allocation strategy of prioritizing investment to grow the business over the long term.

Facebook shares rose $1.07 (+0.91%) to $118.09 in after-hours trading Friday following the news.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.