Shares of Disney just jumped 3% on reports of a massive
$6 billion share buyback announcement.
The headline just crossed Bloomberg.
According to Bloomberg, CFO Jay Rasulo told an investor conference in Beverly Hills that the company plans to buy back as much as $US8 billion worth of shares.
In recent years, many companies have opted to take advantage of low interest rates by borrowing money to finance share buybacks.
With interest rates trending higher since May, corporate financial officers and treasurers may be worried that the opportunity to leverage up there companies cheaply is fading away.
Business Insider Emails & Alerts
Site highlights each day to your inbox.