AutoZone (NYSE:AZO) said after the bell yesterday that its board has approved an additional $500 million in share buybacks. The repurchases are in connection with its ongoing share repurchase program, under which the board has authorized $9.9 billion in buybacks since 1998.
The auto parts retailer said the company is committed to utilizing buybacks to enhance shareholder returns while maintaining adequate liquidity to execute its plans.
Also late yesterday, Danaher Corporation (NYSE:DHR) raised the low end of its fourth quarter guidance. The tool maker is now looking for earnings of $0.64 to $0.66 in the quarter, compared to a prior forecast of $0.61 to $0.66 per share.
Danaher also said it is looking for earnings per share of $2.55 to $2.70 in the 2011 fiscal year, on revenue growth of 6-8%.
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