1. St. Jude launches $1B stock buyback after stock plunge

    St. Jude launches $1B stock buyback after stock plunge

    St. Jude Medical ( $STJ ) has authorized a $1 billion stock repurchase effort amid rumors that it's under the regulatory gun, a week after the company's shares took a dive over new concerns about the safety of its devices. The buyback "demonstrates the confidence our board and management team have in the long-term prospects for St. Jude Medical," CEO Dan Starks said in a statement. The company says it has about 308 million shares outstanding at the moment. After last year's recall of Riata ICD leads pilloried the companies profits, St. Jude faces fresh worry over Durata , the ...

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