U.S. Stock Market News | Micron Tech considers resuming stock buyback plan, stock price rises more than 5% in pre-market trading
After suspending stock buybacks in 2022, chip manufacturer Micron Technology may resume its stock buyback program. In response to this news, Micron Technology rose 5.11% in pre-market trading to $93.55. In a statement, Micron Technology said, "Given the improved situation, the company has decided to potentially resume stock buybacks, which will help offset the dilution impact of employee stock purchase plans. The company remains committed to further strengthening its balance sheet and maintaining its investment-grade credit rating." Micron Technology had approved a stock buyback program in 2018, but suspended stock buybacks at the end of 2022 due to industry downturn
According to the information obtained from the Wise Finance APP, Micron Technology (MU.US), a chip manufacturer, may resume its stock buyback program in 2022 after suspending it. In response to this news, Micron Technology rose 5.11% in pre-market trading to $93.55.
In a statement, Micron Technology said, "Given the improved situation, the company has decided to potentially resume stock buybacks, which will help offset the dilution impact of employee stock purchase plans. The company remains committed to further strengthening its balance sheet and maintaining its investment-grade credit rating."
Micron Technology had approved a stock buyback program in 2018, but suspended it at the end of 2022 due to industry downturn