Stock Track | New Oriental Education Shares Surge After Increasing Stock Buyback Program

Stock Track08-07

Shares of New Oriental Education & Technology Group Inc. (NEW ORIENTAL-S) soared 6.86% during intraday trading on Wednesday, outperforming the broader Hong Kong market.

The rally in the education company's stock came after it announced an increase in its existing stock buyback program. New Oriental Education said it has upsized the buyback program from $400 million to $700 million, signaling its confidence in the company's long-term prospects and commitment to enhancing shareholder value.

Stock buybacks are typically viewed as a positive move by companies as they reduce the number of outstanding shares, thereby increasing earnings per share and making the stock more attractive to investors. The increased buyback program from New Oriental Education could be seen as a vote of confidence from the company's management, potentially driving investor interest and contributing to the stock's surge.

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(NEW ORIENTAL-S) soared 6.86% during intraday trading on Wednesday, outperforming the broader Hong Kong market.\nThe rally in the education ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"09901","symbol_name":"新东方-S","start_time":0,"source_url":"","article_id":"1127170029","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1127170029","pubTimestamp":1723028946,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of New Oriental Education & Technology Group Inc.  soared 6.86% during intraday trading on Wednesday, outperforming the broader Hong Kong market.The rally in the education company's stock came after it announced an increase in its existing stock buyback program. 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