EMS Technologies, Inc. (Nasdaq: ELMG) has announced that it is initiating share repurchases under its previously announced authorization to purchase shares costing up to an aggregate of $20 million, principally in transactions involving substantial blocks. Of this authorization, approximately $10 million has previously been expended. Specific repurchase decisions will be based on market prices and conditions at the time, and on continuing evaluation of alternative needs and opportunities for cash usage.
Arch Capital Group Ltd. (NASDAQ: ACGL) authorized the Company to invest up to an additional $1 billion in the Company's common shares. This authorization is in addition to the $350.1 million available at September 30, 2009 under the Board's previous share repurchase authorizations. Repurchases under the new authorization may be effected from time to time in open market or privately negotiated transactions through December 31, 2011.
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iPass Inc. (NASDAQ: IPAS) reports Q3 loss of $0.02, 3 cents below the analyst estimate of $0.01. Revenue for the quarter was $42.6 million, which compares to the estimate of $42.25 million.
iPass sees Q4 loss of $0.03-breakeven, versus the consensus of a $0.02 gain.
To pay special cash of $0.16 in Q4. Also announces $10 share buyback.
Universal Corp. (NYSE: UVV) announced today that the Company's Board of Directors approved a program for the repurchase of up to $150 million of Universal Corporation common stock. The authorized purchases may be made from time to time on the open market or in privately negotiated transactions at prices not exceeding prevailing market rates. Universal currently has approximately 24.7 million common shares outstanding.
Also, the Board has approved a 2.2% increase in its quarterly dividend from $0.46 to $0.47, payable February 9, 2010, to common shareholders of record at the close of business on January 11, 2010. The dividend yield moves from 4.21% to 4.30%.
CVS Caremark (NYSE: CVS) announces a new $2 billion buyback program.
The company also announced that David Denton will become the new CFO, replacing David Rickard who is retiring at the end of this year.
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