6 Buzzing Movers: Apple Announces Dividend and Buyback Plan, UPS Receives Upgrade
Shares of Apple Inc. (NASDAQ:AAPL) jumped more than 2 percent in early trading. The tech giant finally announced a quarterly dividend of $2.65 per share and a $10 billion share repurchase program. Shares were halted for the actual release of the announcement.
Target Corp. (NYSE:TGT) shares edged .62 percent higher before the opening bell. The company said it completed its $10 billion share repurchase program that it authorized in November 2007. The retailer purchased a total of 193.5 million shares.
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United Parcel Service Inc. (NYSE:UPS) shares gained 1.2 percent in morning trading. The company received an upgrade to overweight from neutral at J.P. Morgan (NYSE:JPM). Analysts expect an upside to UPS after it purchased TNT Express NV for $6.77 billion. “We believe the company’s agreement to buy TNTE is a significant positive and we anticipate favorable trends in UPS’s core domestic package business,” analysts said.
Shares of Groupon Inc. (NASDAQ:GRPN) edged lower early Monday. The internet company launched a new scheduling tool that allows small business customers to book appointments more easily. The new service will be free of charge to businesses that use Groupon.
Sprint Nextel Corp. (NYSE:S) dropped almost 5 percent after being downgraded to underperform from market perform at Bernstein. The firm believes the next generation LTE iPhone will be badly disadvantaged on Sprint’s network.
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