General Electric Company (NYSE:GE) increased its share-buyback plan by $10 billion and increased its dividend by 12% as the industrial conglomerate looks to augment shareholder value.
The repurchase program, which had almost $4.9 billion in remaining approval at the close of its third quarter, was stretched through 2015.
The quarterly dividend was amplified to 19 cents as compared to 17 cents, which should cost the company an extra $211 million a quarter. The yearly yield is currently around 3.5%. [article_detail_ad_1]
Illinois Tool Works Inc. (NYSE:ITW) anticipated Friday that its organic sales next year will rise 1% to 3% above 2012, as sales from Europe stays weak and contracts a little in North America.
For 2013, the Glenview, Ill., firm anticipates organic revenue from Europe, the Middle East and Africa to be unchanged with 2012. ITW expects modest improvement in Asia coming year, forecasting revenue development of 2% to 4% that the company attributes to a successful economy in China.
Mount Kellett Capital Management LP, which administers accounts with beneficial ownership of 53.2 million shares, or around 3.6%, of Clearwire Corporation (NASDAQ:CLWR) common stock, complained Friday the firm’s planned buyout price from Sprint Nextel Corporation (NYSE:S) of $2.90 per share exceptionally undervalues Clearwire.
In a note to Clearwire’s board rolled out on Friday, Mount Kellett stated that Clearwire’s spectrum ownership and other assets potentially value the firm at $6.30 per share.
TiVo Inc. (NASDAQ:TIVO) increased 5% in premarket trades Friday following Goldman Sachs began coverage of the company with a buy ranking and a 12-month price estimate of $15 per share.
Analysts stated in a note to clients that they assess TiVo as a leading vendor well located to target customers who wish a premium viewing experience in the digital sitting room and on mobile gadgets. Goldman Sachs analysts stated that the video content technology company is “firing on all cylinders.”