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4 big stock buybacks: Airbnb's fresh $2.5B repurchase; Devon to buy back $3B

Investing.com
·2-min read

By Davit Kirakosyan

Investing.com -- Here is your Pro Recap of the biggest share-buyback announcements you may have missed last week: repurchases at Airbnb, Devon Energy , Valvoline, and Old Republic.

InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.

Airbnb announces $2.5 billion stock buyback, shares drop following Q1 earnings

Airbnb (NASDAQ:ABNB) announced a $2.5B stock buyback program, as InvestingPro reported in real time. Shares dropped more than 10% on Wednesday and closed the week with a 12% loss after the company reported its Q1 results.

While EPS of $0.18 missed the Street estimate of $0.20, the revenue of $1.8B came in better than the analysts’ estimate of $1.79B, and Nights and Experiences booked hit a record high with over 120M.

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The company guided Q2 revenue in line with the Street estimate but cautioned that growth in the quarter will be limited due to tough comparisons following the pandemic-fueled demand seen last year.

Devon Energy expands stock buyback to $3B

Devon Energy (NYSE:DVN) hiked its shares repurchase program by 50% to $3B and declared its quarterly dividend.

The company reported its Q1 earnings last Monday, with EPS of $1.46 and revenue of $3.82B coming in above the Street estimates. However, shares closed the week with more than a 5% loss.

2 more buybacks

Valvoline (NYSE:VVV) announced that it has commenced a modified "Dutch auction" tender offer to repurchase up to $1B in value of shares of its common stock at $35-$40.

Shares jumped more than 12% on Wednesday after the company posted better-than-expected Q2 results.

Old Republic International (NYSE:ORI) announced on Friday that its Board of Directors has authorized a $450M share repurchase program.

Amid an endless firehose of market headlines, jump on the most important ones to fatten your profits: Always be the first to know with InvestingPro.

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