Cancer expert Exelixis (Nasdaq: Exel) She was a pretty star of the stock market on Friday. After the news that he makes a big, pleasant stretch of shareholders, players on the market accumulated to the company to encourage their shares 5% more per day. This gave a little light to what was generally a gloomy trading session, with S & P 500 The index drops by 1.7%.
After closing the market on Thursday, Exelixis has announced that they will launch a new Sharing programAuthorized for up to $ 500 million its usual shares before this came on December 31. This will begin after the current redemption program is exhausted, also limited to $ 500 million. The company predicts that this will happen in this year’s second calendar quarter.
As with most buyout programs, this will occasionally be held and included different amounts.
The new initiative will be the Exelixis district; The previous one was launched in August 2024. The pharmaceutical company is barely light when it comes to cracking its own stocks; The company revealed that it spent more than $ 1.2 billion on activity by the end of 2024.
Investors tend to welcome the news of the shares buying because they mean that the company helps to increase the value of its capital by soving it on the market for it. Although the redemption program should never be a leading reason to buy any stock, it is an encouraging sign that the managerial team has this type of obligation.
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Eric Volkman There is no position in any of the shares mentioned. Motley Fool has positions and recommends Exelixis. Motley Fool has disclosure rules.
Why the Exelixis shares on Thursday ran on the market originally published by Motley Fool
