ATLAS News · Companies
TradingView reports Thermo Fisher Scientific authorized a $5 billion share repurchase program following upbeat earnings, as broader market risk appetite is firm.
Thermo Fisher Scientific (NYSE: TMO) has authorized a new share repurchase program worth $5 billion, according to TradingView. The announcement follows an earnings report the outlet describes as upbeat.
TradingView notes that the company's shares were trading modestly higher on Friday, in a session where risk appetite was firm and S&P 500 futures were up 1.2%. The report links the move in the shares to the new buyback authorization.
A share repurchase program allows a company to buy back its own stock in the market, which reduces the number of shares outstanding.
The authorization shows how the company is choosing to deploy capital following its latest results, which market participants may weigh alongside the earnings.
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
Healthcare · NYSE
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