Today's Most Important Buybacks

Buybacks by big companies such as Tesla, Snap and Wix caused fluctuations in shares.

Snap (NYSE:SNAP) announced today that its board of directors has authorized a share repurchase program of up to $500 million of its Class A common stock. Following the company's Q3 results, shares fell 26% after-hours today. In last night's conference call, Tesla (NASDAQ:TSLA) CEO Elon Musk said the company could do a $5-10 billion share buyback. Musk said, "Even in the negative scenario next year, even if next year is a very difficult year, we still have the ability to do a $5 billion to $10 billion buyback. This is of course subject to the review and approval of the Board of Directors. So it is likely that we will do a meaningful buyback." Company shares closed down more than 6% today after the release of mixed Q3 results. Tenet Healthcare (NYSE:THC) announced that its Board of Directors has authorized a $1 billion share buyback program. Shares fell more than 13% after-hours due to the company's weak outlook. Wix (Nasdaq: NASDAQ:WIX) announced that its Board of Directors has authorized a share repurchase program under which the company may repurchase up to $300 million of its common stock. Shares rose more than 9% today. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!