Tapestry's stock soars after earnings beat, $1 billion stock repurchase program

Shares of Tapestry Inc. TPR, +0.10% soared 12% in premarket trade Thursday after the parent of Coach and Kate Spade brands reported fiscal third-quarter earnings that beat expectations and authorized a $1 billion stock repurchase program. Net income for the quarter to March 30 fell to $117.4 million, or 40 cents a share, from $140.3 million, or 48 cents a share, in the year-ago period.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Wow, what great use of $1 billion dollars. The sale & purchase of stock doesn't add anything to GDP numbers.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft CEO Nadella says he'd be 'disgusted' by celebrating the company's $1 trillion market capMicrosoft recently briefly hit the milestone of a $1 trillion market cap, a 230% increase since Satya Nadella became CEO. Why are Indian men running our major tech companies?
Source: CNBC - 🏆 12. / 72 Read more »

US tech stocks push Norway's $1 trillion oil fund to best ever gainsThe world's largest sovereign wealth fund just had its best quarter ever Trump2020 +9.1% and they're actually bragging about that.... Nice work Folketrygdfond you only underperformed by 600 bps.. What are you charging them anyway? Are you looking for iPhone style or unique Business card design? Please Contact:
Source: CNBC - 🏆 12. / 72 Read more »