Microsoft Announces $40 Billion in Buybacks, 5-Cent Dividend Hike and 2 Heavily Traded Stocks to Follow
Microsoft Corp. (NASDAQ:MSFT): Current price $33.32
Microsoft has authorized the repurchase of shares worth as much as $40 billion during its fiscal year 2013. The new program supplants the previous one set to expire on September 30 and has no expiry date. What is more, the firm announced its decision to increase the quarterly dividend by 5 cents to 28 cents per share, representing a 22-percent rise from the previous dividend. The 28-cent dividend will be paid on December 12 to stockholders of record as of November 21.
Nokia Corp. (NYSE:NOK): Current price $6.71
Nokia shares are up about 7.25 percent Wednesday afternoon in very heavy trading after the firm got an upgrade at Credit Suisse. Analysts elevated the stock from Underperform to Outperform, writing that after Microsoft agreed to shell out $7.2 billion for Nokia’s handset business and license its patent portfolio, while the latter’s intellectual property might entice other offers from the likes of Google and Intel, or maybe a consortium including them.
Sprint Nextel Corp. (NYSE:S): Current price $6.44
On Wednesday, Sprint said that it will sell its products and services in 100 additional stores owned by Costco Wholesale Corp., broadening its relationship with the retailer spanning the United States. Last autumn, Sprint started selling products in 106 Costco membership warehouses. The majority of the products are Sprint’s premium, higher-end handsets from its Samsung, HTC, and Motorola portfolios, and the most recent from its repertoire of 4G LTE phones. The addition of the added Costco stores will help Sprint aim at and reach the growing market of small-to-medium-sized businesses from which Costco has benefitted over the years.