EMC Boosts Buyback Authorization and 2 More Heavily Traded Stocks to Follow

EMC Corporation (NYSE:EMC): Current price $24.91

EMC shares rallied 5.37 percent to close at $24.93 on Thursday, after the company said that its board has hiked its current $1 billion share repurchase authorization to $6 billion. The program should be completed by Dec 31, 2015 and EMC expects to repurchase shares worth $3.5 billion by the end of second quarter of 2014, of which $500 million has already been spent this year. The firm also said that it will begin a quarterly dividend payment of 10 cents on July 23rd to shareholders of record as of July 1st.

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American International Group (NYSE:AIG): Current price $44.71

AIG might be obliged to consider other options so as to divest a majority interest of its aircraft leasing subsidiary. On Friday, AIG said in a filing with the Securities and Exchange Commission that it had not received a 10 percent deposit by the May 30th deadline, as mandated under a December arrangement to sell a majority interest in International Lease Financial Corporation to an investor group led by New China Trust. On December 7, AIG announced a deal to divest as much as 90 percent of ILFC to the investor group, in a deal that values the aircraft leasing business at $5.28 billion. New China Trust and its investor partners agreed to acquire a stake of a minimum of 80.1 percent of ILFC for $4.23 billion, but an escrow deposit of 10 percent, or about $20 million, was due on Thursday and not received.

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Barrick Gold Corporation (NYSE:ABX): Current price $21.08

The Street reports that gold prices were pulling back on Friday, reversing Thursday’s gains, as the United States dollar appreciated against a group of currencies for the first time since the beginning of the trading week. Gold for August delivery at the COMEX division of the CME was falling by $16.50 to $1,395.50 an ounce. The gold price traded as high as $1,421.60 and as low as $1,389.20 an ounce, while the spot price was falling $17.20, according to Kitco’s gold index.

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