Cytec Industries Inc. (CYT) announced that it received approval from its Board of Directors for a new stock buyback authorization of up to $200 million. The company anticipates the new stock buyback authorization to be completed by the end of September 2013.
In addition, the company said it expects to complete the current stock buyback authorization by June 11. At the completion the company will have purchased approximately 9 million shares for $650 million since the program was announced on October 9, 2012 using proceeds from the sale of the Coating Resins business.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.