Repurchase Includes Initial $400 Million
International Game Technology announced a $1 billion stock buyback. Goldman Sachs was hired to snap up $400 million in the initial stages of the plan. IGT is higher by 6 percent before the bell on my tradeMONSTER platform.
Pork Margins Weigh on Smithfield
Smithfield Foods reported fourth-quarter earnings of $0.43 on revenue of $3.21 billion. Analysts had expected $0.53 and $3.26 billion, respectively. SFD drops 5 percent in the premarket.
Guidance Weighs on Korn/Ferry
Korn/Ferry International reported better-than-expected results, but guidance was light. For the current quarter, revenue is expected to be just $172 million to $188 million, below the $200 million consensus estimate. Earnings will be no more than $0.22, while analysts had expected $0.30. KFY drops 3 percent before the bell.
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