9 big stock buybacks: Exxon to repurchase up to $50 billion

Here are some of the biggest share-buyback announcements for this past week, all first covered on InvestingPro+.

1. Lowe's (NYSE:LOW) authorized a new $15 billion common stock repurchase program with no expiration date that adds to the previous program's balance, which it says was $6.4 billion as of Dec. 6, 2022. The authorization is based on the board of directors' "confidence in the company's continued momentum and strong cash generation capabilities," said the company.

2. ExxonMobil (NYSE:XOM) announced a $20 billion expansion of its prior share-repurchase program, which now totals $50 billion through 2024. It also recently increased its annual dividend payment for the 40th consecutive year.

3. Landstar System (NASDAQ:LSTR) added some 1,900,000 shares to its existing stock-repurchase authorization, bringing the total to 3,000,000. The company also announced a special one-time cash dividend of $2.00 per share. Shares were down 2.4% for the week.

4. Morningstar Inc (NASDAQ:MORN) approved a new $500 million three-year share repurchase program, effective Jan. 1, 2023, to replace its existing program. It also raised its dividend 4.25% to $0.375.

5. State Street Corporation (NYSE:STT) announced an incremental increase of up to $500 million to its existing fourth-quarter share-repurchase authorization, which expires at the end of 2022. The company now intends to repurchase up to a total of $1.5 billion of its common stock in the fourth quarter of 2022.

6. Criteo Sa (NASDAQ:CRTO) shares rose after the company announced an extension of its previously authorized share-repurchase program of up to $280 million of the company's outstanding American depository shares, bringing the total to up to $480 million.

7. CarGurus (NASDAQ:CARG) shares surged after the company said it would repurchase up to $250 million in stock.

8. Triton International (NYSE:TRTN) said it would add $400 million to the company’s existing share repurchase authorization.

9. Penn National Gaming (NASDAQ:PENN) announced a new $750 million share-repurchase program.

Davit Kirakosyan contributed to this article.

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