- T-Mobile US Inc (NASDAQ:TMUS) said its board authorized a $14 billion stock buyback program, poised to run till September 30, 2023.
- The company intends to fund the repurchases from available cash on hand and proceeds of one or more debt issuances or other borrowings.
- TMUS specified in the regulatory filing that its controlling stockholder, Deutsche Telekom AG (OTC:DTEGY) (OTC:DTEGY), has no present intention of selling common stock pursuant to the repurchase program.
- TMUS held $3.2 billion in cash and equivalents as of June 30, 2022.
- Price Action: TMUS shares are trading higher by 1.65% at $147.77 in premarket on the last check Friday.
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Wells Fargo Upgrades Weber to Equal-Weight, Raises Price Target to $6.25
Wells Fargo analyst Chris Carey upgrades Weber (NYSE:WEBR) from Underweight to Equal-Weight and raises the price target from $4 to $6.25.
