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Beauty Health Authorizes $200 Mln Share Buyback; Inks $100 Mln ASR Deal With JPMorgan
(RTTNews) - The Beauty Health Co. (SKIN) announced its Board of Directors has authorized a share repurchase program of up to $200 million of the Company's outstanding common stock.
In connection with the share repurchase authorization, the Company entered into an accelerated share repurchase agreement (ASR) with JPMorgan Chase Bank, N.A., to repurchase $100 million of the Company's common stock.
Upon completion of the ASR, the Company will have authorization to repurchase an additional $100 million of shares of common stock. It will make a payment of $100 million and will receive an initial delivery of approximately 7.7 million shares of the Company's common stock on September 29, 2022.
The company expects to fund the repurchase with cash on-hand. The final settlement of the ASR is expected to occur during the first quarter of 2023.
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Mild Support Expected For Malaysia Stock Market
The Malaysia stock market has finished higher in two of three trading days since the end of the three-day losing streak in which it had slipped more than 20 points or 1.3 percent. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets offers little clarity as traders figure to wait and see what transpires over trade and tariff talks. The European markets were down and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
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17 minutes ago
Japan Stock Market Poised To Snap Losing Streak
The Japanese stock market has moved lower in three straight sessions, sinking more than 360 points or 0.9 percent in that span. The Nikkei 225 now sits just beneath the 39,570-point plateau although it's likely to stop the bleeding on Tuesday.
The global forecast for the Asian markets offers little clarity as traders figure to wait and see what transpires over trade and tariff talks. The European markets were down and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
The Nikkei finished modestly lower on Monday as losses from the financial and technology stocks were mitigated by support from the automobile producers.
For the day, the index shed110.06 points or 0.28 percent to finish at 39,459.62 after trading between 39,288.90 and 39,608.02.
Among the actives, Nissan Motor accelerated 3.61 percent, while Mazda Motor rose 0.39 percent, Toyota Motor advanced 0.94 percent, Honda Motor improved 0.86 percent, Softbank Group stumbled 3.12 percent, Mizuho Financial sank 0.71 percent, Sumitomo Mitsui Financial fell 0.33 percent, Mitsubishi Electric eased 0.03 percent, Sony Group slipped 0.31 percent, Panasonic Holdings dropped 0.83 percent and Hitachi climbed 1.21 percent.
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32 minutes ago
Additional Upside Seen For South Korea Stock Market
The South Korea stock market bounced higher again on Monday, one session after ending the four-day winning streak in which it had rallied more than 130 points or 4.1 percent. Now at a four-year closing high, the KOSPI sits just above the 3,200-point plateau and it may tick higher again on Tuesday.
The global forecast for the Asian markets offers little clarity as traders figure to wait and see what transpires over trade and tariff talks. The European markets were down and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
RTTNews
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47 minutes ago
China GDP Data Due On Tuesday
China will release a batch of data on Tuesday, highlighting a busy day for Asia-Pacific economic activity. On tap are Q2 numbers for gross domestic product and June figures for industrial production, retail sales, fixed asset investment and unemployment.
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1h 47min ago
Canadian Dollar Strengthens Amid Risk Appetite
The Canadian dollar advanced against its most major counterparts in the New York session on Monday, as investors shrugged off tariff threats from President Donald Trump over the weekend.
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2h 44min ago
Swiss Market Settles Slightly Up After Lackluster Session
The Switzerland market, which remained in the red save for a brief while at the fag end of the day's session, settled with a small gain on Monday.
The mood in the market was very cautious as trade war fears escalated after U.S. President Donald Trump announced over the weekend that he would impose a 30% tariff on EU imports from August 1.
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5h 56min ago
European Stocks Close Mostly Lower
Despite staging a recovery in late afternoon trades, European markets mostly ended on a weak note on Monday as worries about global trade escalated after U.S. President Donald Trump announced over the weekend that he would levy a 50% tariff on EU imports from August 1.
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6h 16min ago
Bay Street Likely To Open On Mixed Note
Canadian shares may open on a mixed note Monday morning, tracking a weak lead from European markets and firm commodity prices.
The mood is likely to be cautious as investors await Canadian inflation data for the month of June on Tuesday.
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11h 28min ago
