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Long BDX, Short SPY
Becton Dickinson (BDX) announced today that its Board of Directors has approved an increase in its share buyback program. "We are pleased to announce that we are increasing our share repurchases to $700 million from $550 million, which supports our ongoing commitment to return value to shareholders," said Edward J. Ludwig, Chairman and Chief Executive Officer.
BDX also today reported quarterly revenues of $1.878 billion for the third fiscal quarter ended June 30, 2010, representing an increase of 3.2 percentage from the prior-year period. “We are pleased with our results this quarter, with each of our three segments contributing to our growth. We delivered earnings per share from continuing operations of $1.29, which is in line with the Company’s expectations." Click to view this pair.
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