Uber Launches Its First-Ever Buyback Program, for Up to $7B

Uber Technologies is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Earlier Wednesday, the ride-sharing company announced its first-ever stock-buyback program, as its board authorized the repurchase of up to $7 billion of common stock. Uber’s Financial Chief Prashanth Mahendra-Rajah called the move “a vote of confidence in the company’s strong financial momentum.” Dow Jones & Co. owns Factiva.

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