SNE - Sony wraps repurchase program without buying shares; stock rises 2.1%

Sony (SNE) has noted the end of a stock repurchase program during which it didn't buy back any shares. The stock is up 2.1% in NYSE trading today. In a 6-K filing, Sony says the program set by a resolution on Aug. 4, 2020, has expired. "Sony established the repurchase program to enable Sony to flexibly repurchase its shares considering factors such as opportunities for strategic investment, Sony's financial condition and the price of its common stock," the company says. But "Considering the price level of our common stock after the resolution of the Board of Directors dated as of August 4, 2020 and Sony’s pursuit of certain investment opportunities, Sony did not repurchase its shares during the repurchase period." Sony stock closed at $81.27 on Aug. 3; it's since risen 31% to $106.74. SNE over the past six months:Source: Seeking Alpha SNE quote page

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Sony wraps repurchase program without buying shares; stock rises 2.1%