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☆ GM lavishes shareholders with cash weeks after saying it couldn’t afford workers’ demands
▼ + stars: | 2023-11-29 | by ( Allison Morrow | Chris Isidore | ) edition.cnn.com time to read: +3 min

GM’s stock jumped nearly 10% on the news. The announcement comes just weeks after GM executives argued the company couldn’t afford to give the union the wage and benefit gains it wanted. The UAW strike dragged on for six weeks and shut down production in key manufacturing plants. New contracts for GM’s unionized workers in the United States and Canada will cost the company an additional $9.3 billion through 2028. Even with Wednesday’s surge in GM’s share price, the stock is trading for less than it did at the start of the strike.

Persons: Mark Reuss, “, ”, Mary Barra, Buybacks, Sen, Elizabeth Warren, Warren, ” Warren, — CNN’s Matt Egan Organizations: New, New York CNN —, Motors, GM, United Auto Workers, nonunion automakers, UAW Locations: New York, salve, United States, Canada

☆ GM's core business a lot more profitable than the Street gives it credit for, says Tim Seymour
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGM's core business a lot more profitable than the Street gives it credit for, says Tim Seymour'Fast Money' traders weigh in on GMs stock buyback, quarterly earnings, EV transition and more.

Persons: Tim Seymour

☆ Salesforce shares are deservedly rewarded after a stellar quarter and a rosy outlook
▼ + stars: | 2023-11-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Bottom line It was another terrific quarter from Salesforce with steady, double-digit revenue growth and a continued operating margin uplift, leading to a huge increase in earnings per share. Additionally, the topline growth story has some game to it, thanks to the surge in interest in its Data Cloud. By Cloud unit, the most exciting performance in the quarter came from the Data Cloud. Revenue growth accelerated to 22% from 16% in the prior quarter, and the company said it added 1,000 new customers in the quarter alone. Artificial intelligence is driving the interest in the Data Cloud, as more customers seek to use Mulesoft's integration technology to unlock data across legacy systems, cloud apps, and devices.

Persons: Salesforce, Marc Benioff, management's, Salesforce's headcount, Salesforce's, Jim Cramer's, Jim Cramer, Jim, Nicholas Kamm Organizations: Revenue, LSEG, CNBC, Salesforce, Economic, Washington, AFP, Getty Locations: Americas, Africa, Asia, headcount, Washington ,

☆ Stocks making the biggest moves midday: Foot Locker, General Motors, Phillips 66 and more
▼ + stars: | 2023-11-29 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Late Tuesday, the company reported fourth-quarter earnings of 2 cents per share, topping the FactSet consensus estimate of a loss of 7 cents per share. Foot Locker — The footwear retailer gained 17% after Foot Locker topped analysts' expectations in its third quarter. The company also issued third-quarter earnings guidance and a full-year forecast that came ahead of what the Street anticipated. Workday — The enterprise cloud stock popped 12% after Workday reported third-quarter results that exceeded expectations. Phillips 66 — Phillips 66 gained 3.6% after Elliott Investment Management on Wednesday said it took a $1 billion stake in the company.

Persons: Locker, CrowdStrike, General Motors, Vestis, Phillips, — Phillips, CNBC's David Faber, Jabil, Hormel, LSEG, —, Alex Harring, Darla Mercado Organizations: Rover, Blackstone, Fluence Energy, Revenue, LSEG, General, GM, United Auto Workers, Hewlett Packard Enterprise, Elliott Investment Management, Petco, Wellness, Hormel

☆ GM says union labor deals will increase costs by $9.3 billion
▼ + stars: | 2023-11-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

General Motors expects new labor contracts with the United Auto Workers and Canadian union Unifor to increase its costs by $9.3 billion and add approximately $575 in costs per vehicle during the terms of the deals. GM disclosed the expected labor deal impact as part of a business update Wednesday in which it initiated a $10 billion accelerated stock buyback program, increased its dividend and reinstated its full-year 2023 guidance. GM said the $9.3 billion in labor cost increases are expected to occur as follows: $1.5 billion in 2024; $1.8 billion in 2025; $2.1 billion in 2026; $2.5 billion in 2027; and $1.1 billion from January-April 2028. GM's expected vehicle cost increase includes $500 per vehicle in 2024. Chrysler parent Stellantis , which was the second of the so-called Big 3 U.S. automakers to reach a deal with the UAW, has not disclosed expected costs of its labor pact with the union.

Persons: —, Mary Barra, John Lawler Organizations: Motors, United Auto Workers, Canadian, UAW, GM, Detroit, Ford Motor, Ford, Chrysler, CNBC PRO Locations: —, U.S

Toyota, Toyota Industries and Aisin will sell Denso shares worth a total of about 700 billion yen ($4.7 billion) at current market prices, the two sources said. In a statement, Denso said it was considering a share sale, a buyback and other capital measures, but that nothing had yet been decided. At $4.7 billion, it would be the second-biggest such share offering in Japan this year, after the more than $9 billion sale of shares in Japan Post Bank (7182.T) in March, according to LSEG data. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Denso, Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed, Miral Fahmy, Louise Heavens Organizations: Companies, Toyota, Toyota Industries, Aisin, Japan Post Bank, Tokyo Stock Exchange, Buyers, KDDI Corp, Reuters, Nikkei, Thomson Locations: TOKYO, Denso, Japan

☆ China's Meituan launches $1 bln share buyback program
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Wang Xing, CEO of Meituan-Dianping attends at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. Meituan CEO Wang Xing had said on Tuesday that the board had authorised a share buyback of up to $1 billion but it would depend on the company's cash position due to plans to invest in new initiatives and explore overseas investments. "The Board believes that the current financial resources of the company would enable it to implement the share repurchase while maintaining a solid financial position," Meituan said in an exchange filing on Wednesday. The share repurchase will start from Dec. 1. Meituan, China's largest food delivery provider ahead of Alibaba's Ele.me, on Tuesday flagged expectations around fourth-quarter revenue growth for its core food delivery business to slow versus the preceding quarter.

Persons: Wang Xing, Dianping, Aly, Meituan, Alibaba's, Rishav Chatterjee, Maju Samuel Organizations: World Internet Conference, REUTERS, HK, Thomson Locations: Wuzhen, Zhejiang province, China, Bengaluru

☆ Julius Baer’s damage control only goes so far
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Nov 27 (Reuters Breakingviews) - Julius Baer (BAER.S) has soothed agitated investors’ fears – but only up to a point. The $11 billion Swiss wealth manager said on Monday that 70 million Swiss francs of recently revealed losses stemmed from 606 million Swiss francs of loans to a single corporate client – which Reuters identified as troubled property group Signa. That’s 40% of the bank’s 1.5 billion Swiss francs riskiest credits, an uncomfortably high concentration. That implies a buffer of 450 million Swiss francs over the 14% threshold at which boss Philipp Rickenbacher gets comfortable doing share buybacks.

Persons: Julius Baer, Arnd, ’, –, Philipp Rickenbacher, Julius Baer’s, Lisa Jucca, Warren Buffett, George Hay, Streisand Neto Organizations: REUTERS, Reuters, X, Thomson Locations: Zurich, Switzerland, China

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 21, 2023. The pan-European STOXX 600 (.STOXX) rose 0.4% to close out the week with a 0.9% gain as investors focused on corporate earnings and the prospect of rate cuts. Euro zone government bond yields were set to close the week higher as investors balanced recession fears against comments from European Central Bank policymakers pushing against market expectations for rate cuts in 2024. For the week, real estate (.SX86P) shares lagged while media (.SXMP) and retail stocks (.SXRP) were the top performers. Reporting by Ankika Biswas and Bansari Mayur Kamdar in Bengaluru; Editing by Sonia Cheema, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Wintershall, they're, Giles Coghlan, Coghlan, Christian Lindner, Germany's DAX, Ankika Biswas, Bansari, Sonia Cheema, Kirsten Donovan Organizations: REUTERS, Staff, BASF, U.S, European Central Bank, Shoppers, Bloomberg News, Abu, Abu Dhabi National Oil Co, Barclays, German, Thomson Locations: Frankfurt, Germany, Europe, Abu Dhabi, Israel, Bengaluru

☆ Czech gunmaker Colt CZ makes offer for Vista Outdoor
▼ + stars: | 2023-11-23 | by ( Jason Hovet | ) www.reuters.com time to read: +3 min

Visitors look at firearms from Colt CZ Group at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsPRAGUE, Nov 23 (Reuters) - Czech gunmaker Colt CZ Group (CZG.PR) has made a cash-and-stock merger offer to Vista Outdoor (VSTO.N), valuing the U.S. sporting and outdoor goods group's shares at a 16% premium. Colt CZ said it proposed keeping the company together, scrapping plans to separate Vista at this time. Colt CZ, along with a majority shareholder and its chairman, together acquired more than 5% of Vista shares, they announced in October. Colt CZ shares fell around 3% at the Prague open on Thursday but had recovered to trade nearly 1% higher by 1053 GMT.

Persons: Sarah Meyssonnier, Colt CZ's, Vista, Colt, Jason Hovet, Mark Potter Organizations: Colt CZ, REUTERS, Rights, Vista, Czechoslovak Group, Czechoslovak, Colt, CSG, Thomson Locations: Paris, Villepinte, France, Czech, U.S, Vista, Prague

☆ UK's Sage reports 18% rise in annual operating profit
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 22 (Reuters) - Software company Sage (SGE.L) reported a 18% rise in full-year underlying operating profit to 456 million pounds ($568 million) on Wednesday after its margin rose to 20.9%, and it said the margin would continue to increase this year. "Looking ahead, we expect organic total revenue growth in FY24 to be broadly in line with FY23," it said. "Operating margins are expected to trend upwards in FY24 and beyond, as we focus on efficiently scaling the group." The company also said it would start a 350 million pound share buyback programme which would run until next April. ($1 = 0.8025 pounds)Reporting by Paul Sandle; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Sandle, Sarah Young Organizations: Software, Thomson Locations: British

☆ Here come the buybacks: Company stock purchases may give year-end rally additional lift
▼ + stars: | 2023-11-20 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

The year-end rally we've been enjoying could get another lift as companies scoop up shares of their own stock. Those gains are driven mainly by falling Treasury yields, as well as third-quarter results that have come in largely better than anticipated. But some market observers expect equities could get another boost from the number of companies exiting the "buyback blackout" window. This period spans several weeks around quarterly results when companies are restricted from repurchasing shares. As of the survey's close last Tuesday, that would mean the S & P 500 would reach 4,945, or an all-time high.

Persons: we've, Strategas, Ryan Grabinski, Jill Carey, Grabinski, — CNBC's Michael Bloom Organizations: Bank, Investor

☆ Caterer Compass forecasts strong growth in 2024
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Catering group Compass Group (CPG.L) expects 2024 underlying operating profit to grow about 13%, aided by strong demand leading to high single-digit organic revenue growth and stronger margins, it said on Monday. Compass, the world's largest catering group, said adjusted operating profit rose nearly 30% to 2.12 billion pounds ($2.64 billion) for the year ended Sept. 30, in line with market expectations. "Going forward, we expect to sustain mid to high single digit organic revenue growth and ongoing margin progression leading to profit growth ahead of revenue growth and increased cash generation," CEO Dominic Blakemore said in a statement. Annual underlying revenue grew 18.8% to 31.3 billion pounds, registering growth across its markets. In financial year 2023, it signed 2.7 billion pounds of new business, with first-time outsourcing accounting for about 50%.

Persons: Dado Ruvic, Dominic Blakemore, Compass, Hofmann, Yadarisa, Rashmi Organizations: REUTERS, Compass, Manufaktur GmbH, Thomson Locations: Argentina, Angola, Bengaluru

In an email to staff reviewed by Reuters, Cruise CEO Kyle Vogt also said the firm would make a new tender offer to allow employees to sell shares, just two days after cancelling an earlier offer. "As CEO, I take responsibility for the situation Cruise is in today. Vogt also noted that the company's approach to working with regulators, press and the public "must improve." Cancelling the program helped to cut costs for GM after it had to pause Cruise operations. Cruise has said it showed officials of the California DMV the complete video of the accident multiple times and provided a copy to officials.

Persons: Heather Somerville, Cruise, Kyle Vogt, Vogt, We've, Greg Bensinger, Hyunjoo Jin, David Shepardson, Cynthia Osterman, Tom Hogue Organizations: General Motors Corp, REUTERS, General Motors, Reuters, Cruise, Cruisers, GM, California Department of Motor Vehicles, California DMV, Thomson Locations: San Francisco, California, U.S, United States, Washington

Ustrell is one of scores of European winemakers struggling to grow enough grapes as extreme and unseasonable weather becomes more commonplace. Falling prices, rising costsAcross the border, French winemakers are grappling with the opposite problem: Too much wine. Many French winemakers have suffered as retail prices have fallen this year. Charly Triballeau/AFP/Getty ImagesFrench winemakers struggling to sell their own produce have taken out their anger on imports from Spain. The supply of French wine has exceeded waning demand in France and abroad this year.

Persons: New York CNN — Jordi Ustrell, “, Celler, Ustrell, Giogio Delgrosso, Delgrosso, Greg Jones, ”, hasn’t, pip Italy, ’, Charly Triballeau, Rouanet, Michael Baynes, they’ve, Baynes, Arnaud Finistre, John Mitra, Penelope, It’s, Penelope Mitra, Faure Haut Normand, John Mitra More, Mitra Organizations: New York CNN, CNN, International Organisation for Vine, European Union, Getty, European Commission, Vineyards, Estate, “, Burgundy Wine Company Locations: Paris, New York, Spanish, Gratallops, Italy, Spain, Australia, South Africa, Chile, United States, an Oregon, Oregon, Barcelona, Sauvignon, France’s Bordeaux, France, French, Toulouse, AFP, Aude, Bordeaux, Argentina, Burgundy

"This super pre-emptive right will work only in specific cases, with specific companies," Chebeskov said on the sidelines of a financial forum in Moscow on Nov. 14. "The idea was that this concerns only those strategic companies in which the state already has a share," Chebeskov said. The lack of clarity and uncertain timeline highlights the unpredictable nature of regulatory changes facing investors and businesses seeking to adjust their exposure to Russia. This compares with net outflows of around $48 million in March 2022 and $69 million in February this year. Western investors have already struggled to get assets out of Russia.

Persons: Vladimir Putin, Ivan Chebeskov, Chebeskov, Rybalkin, Tskhakaya, Thomas J Brock, Carlsberg's, Putin, JP Morgan, JPM, Vijay Marolia, Brock, Sinead Cruise, Alexander Marrow, Elena Fabrichnaya, Darya Korsunskaya, Jane Merriman Organizations: Ukraine LONDON, Reuters, Nato, Dyakin, Partners, Kaiser Consulting, Investors, Morningstar Direct, Federal Property Agency, Assets, Deutsche Bank, Regal Point Capital, HSBC, Expobank, Thomson Locations: Russia, Ukraine, MOSCOW, Moscow, Russian, Magnit, London

☆ EFG shares jump 3% following record profitability
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The logo of EFG International bank is seen at its headquarters in Zurich, Switzerland February 28, 2018. The bank's share price has risen more than 11% this year, and hit a year-high of 10.98 Swiss francs on Nov. 1. This is on top of its existing commitment to repurchase up to 6 million shares by Sept. 11, 2024 . At 144.1 billion Swiss francs, assets under management were only slightly higher than the 143.1 billion francs at the end of 2022. According to EFG, the growth in net new assets was largely offset by negative currency effects.

Persons: Arnd, Giorgio Pradelli, Zuercher, Michael Klien, EFG, Noele Illien, Sharon Singleton Organizations: International, REUTERS, Rights, EFG, Thomson Locations: Zurich, Switzerland, Swiss

☆ Charter to pay $25 million for stock buyback controls violations, SEC says
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Charter said in a statement that it fully cooperated with the SEC's inquiry and that its share repurchase plans were well-documented and disclosed in financial statements. "We remain committed to a share buyback program and our previously stated leverage targets," the company said. U.S. regulators have ratcheted up scrutiny of rearranged stock trading programs, known as 10b5-1 plans, in the face of criticism from lawmakers and others. The SEC last year overhauled the rules for such plans to deter insiders from trading on material information that investors do not have. Reporting by Chris Prentice in New York and Jasper Ward in Washington; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Prentice, Jasper Ward, Bill Berkrot Organizations: Communications, WASHINGTON, SEC, U.S, Securities, Exchange Commission, Thomson Locations: U.S, New York, Washington

☆ Support from a new activist firm may be what Disney needs to accelerate CEO Iger's turnaround
▼ + stars: | 2023-11-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

We're pleased to see a new activist firm come to Disney 's (DIS) support since CEO Bob Iger's turnaround strategy for the entertainment giant has been taking time to show meaningful results. ValueAct started to build its Disney stake this past summer, and the stock is now among its largest positions. DIS YTD mountain DIS stock performance year-to-date. ValueAct isn't the only activist firm that has built a stake in Disney. This new Disney buy during the third quarter comes after Peltz's recent push in October to potentially reignite a fight for multiple seats on Disney's board.

Persons: We're, Bob Iger's, ValueAct, Ken Squire, Mason Morfit, Squire, Nelson Peltz's, Nelson, Jim Cramer, Peltz, Iger, Jim Cramer's, Jim, Walt, Joe Raedle Organizations: Disney, Management, SEC, CNBC, Netflix, Walt Disney, Getty Locations: Disney, Hulu, Orlando , Florida

☆ UniCredit CEO Orcel's 'bank of Europe' ambition tough to realise
▼ + stars: | 2023-11-14 | by ( Valentina Za | ) www.reuters.com time to read: +6 min

However, his aspirations to make UniCredit the "bank of Europe" are proving trickier to realise with the CEO setting a high bar for mergers and acquisitions in the euro zone's fractured capital markets, despite having what he describes as the biggest war chest among European lenders. UniCredit bought Greece's 9% stake in Alpha Bank (ACBr.AT) and struck a commercial partnership with the Athens-based lender, also acquiring most of its Romanian operations. The CEO works closely with a small M&A team he set up within UniCredit which constantly reviews potential deals in the markets and businesses where the bank operates, people with knowledge of the matter said. But uneven regulation across the euro zone, where progress towards a single banking market has stalled, complicates cross-border deals. Calling on Europe to follow his lead, Orcel says he has unlocked UniCredit's potential by giving it a unified strategy across its 13 markets.

Persons: Andrea Orcel, Merrill Lynch, Orcel, He's, Cole Smead, ALPHA Orcel, Siena, UniCredit, Smead, Jean, Pierre Mustier's, Mustier, it's, Carlo Franchini, Danilo Masoni, Kirsten Donovan Organizations: Discount, MILAN, UBS, Smead Capital Management, Fund, ALPHA, Banco, Alpha Bank, Alpha, Banca Ifigest, Thomson Locations: buybacks, Europe, Arizona, Ukraine, Athens, HVB, Berlin, Milan

☆ Imperial Brands expects profit growth next year, raises dividend
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - Imperial Brands (IMB.L) on Tuesday forecast revenue and profit growth next year led by the second half helped by pricing actions and investments in tobacco alternatives. The maker of Winston cigarettes, Backwoods cigars and Golden Virginia rolling tobacco reported an adjusted operating profit of 3.89 billion pounds ($4.78 billion) for the year ended Sept. 30, up from 3.69 billion. Imperial said next year it anticipates low-single-digit revenue growth, while it expects adjusted operating profit close to the middle of its mid-single digit range. This means adjusted operating profit will likely grow by low single digits in the first half, it continued. Imperial raised its annual dividend by 4%, and said its ongoing multi-year share buyback would increase 10% in 2024.

Persons: Dado Ruvic, Winston, Stefan Bomhard, Imperial, Eva Mathews, Emma Rumney, Subhranshu Sahu, Jason Neely Organizations: Imperial Brands, REUTERS, Thomson Locations: Virginia, Bengaluru, London

☆ Here's an unusual income play for U.S. investors out of China, according to UBS
▼ + stars: | 2023-11-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Investors looking for dividend plays may want to check out China-based wealth management firm Noah , according to UBS. Noah announced its first dividend payout plan in 2022, and its payout ratio — or the proportion of the company's net income paid out to shareholders as dividends — was equivalent to 17.5%, she said. However, there are likely more capital market initiatives to increase returns to shareholders, Li pointed out. "We expect the company to announce more initiatives to increase market liquidity and shareholder return. We see upside risk to a potentially increased dividend payout ratio for 2023E," she wrote.

Persons: Noah, Helen Li, —, Li, NOAH YTD, We're, Qing Pan, — CNBC's Michael Bloom Organizations: UBS, The, Zhongzhi Enterprise Group Locations: China, U.S

☆ These stocks are 'built for growth' and have major upside, Goldman analysts say
▼ + stars: | 2023-11-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

They include Monday.com , Booz Allen Hamilton, Brink's, Apollo Global Management and Constellation Brands. Booz Allen Hamilton Booz Allen is up 20% this year, but the government and military contractor's stock has more room to run, according to Goldman. Constellation Brands "Built for growth," analyst Bonnie Herzog said in a note, following the beer and wine producer's recent analyst day. Booz Allen Hamilton - buy rating "Booz Allen again beat consensus revenue, growing top-line 15% organically, continuing a pace well ahead of nearly all peers in the national security sector. Monday.com - buy rating "Expect little to no disruption to near-term execution; see Investor Day offering lens into LT growth potential.

Persons: Goldman Sachs, Booz Allen Hamilton, Booz Allen Hamilton Booz Allen, Noah Poponak, Booz Allen, BAH, Poponak, Bonnie Herzog, Herzog, Monday.com, Kash Rangan, Rangan, …, BCO Organizations: CNBC, Monday.com, Apollo Global Management, Constellation Brands, Booz, Goldman, U.S . Staples, TAM, Retail Solutions, Private Credit Locations: Brink's, Government, NYC, Israel, APOs

The option however is not top of the list for the Treasury, one of the sources added. Announced in May, Eni's share buyback is underway and is expected to increase the government's total stake to just above 34% of voting shares. Once completed, the Treasury could potentially sell enough shares for Italy to remain slightly over 30% of Eni's capital when factoring in CDP's stake, another source said. At current market prices, 4% of Eni is worth around 2 billion euros ($2.14 billion). Eni's share buyback is expected to end before April 2024 after the group said last month it would speed up the programme launched to reward investors.

Persons: Chris Helgren, Italy's, Eni's, Lucia Albano, Giancarlo Giorgetti, Jan Harvey Organizations: Eni, REUTERS, MILAN, Italy's Treasury, Bankers, Treasury, European Union, Economy, Ferrovie dello Stato, Thomson Locations: Vancouver , British Columbia, Canada, Rome, Italy, dei

☆ ITT CEO Luca Savi sits down with Jim Cramer
▼ + stars: | 2023-11-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

ITT CEO Luca Savi sits down with Jim CramerITT President and CEO Luca Savi sits down with 'Mad Money' host Jim Cramer to talk ESG priorities, the stock's stellar performance, its $1 billion stock buyback and more.

Persons: Luca Savi, Jim Cramer Organizations: ITT, Jim Cramer ITT

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