Plus   Neg

Intuitive Surgical Announces $2.0 Bln Accelerated Share Repurchase - Quick Facts

Intuitive Surgical, Inc. (ISRG) announced it has entered into an accelerated share repurchase program with Goldman, Sachs & Co. pursuant to which Intuitive Surgical will repurchase $2.0 billion of its common stock from Goldman. Goldman is expected to make an initial delivery by approximately January 27, 2017, to Intuitive of approximately 2.4 million shares of Intuitive's common stock.

Intuitive Surgical had approximately $3.0 billion remaining under its Board authorized stock repurchase program prior to the initiation of the ASR Program. The company said the additional purchases under the remaining authorization, or approximately $1.0 billion, will depend upon market conditions.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy said it is partnering Popsockets to bring products designed by teens from the company's community programs to its store shelves. The electronics retailer will sell the teen-designed PopGrips in its stores as part of its "Black History Month" campaign. The campaign is intended to celebrate and encourage young artists. Goldman Sachs Group Inc. (GS) on Tuesday reported a fourth-quarter profit that more than doubled from last year, reflecting a surge in investment banking revenues and lower provisions for bad loans. Net revenues for the quarter rose 18 percent. Both quarterly earnings per share and revenues topped analysts' expectations. U.S. holiday retail sales in 2020 were unexpectedly high compared to last year and came in significantly higher than the previous forecast, according to the National Retail Federation or NRF. Retail sales for the November-December 2020 holiday season grew 8.3 percent from the prior-year period to $789.4 billion. The figures exclude automobile dealers, gasoline stations and restaurants.
Follow RTT