On Tuesday, Shares of Life lock Inc (NYSE:LOCK), gained 6.23% to $15.34.
Life Lock, declared that its Board of Directors has approved the repurchase of up to $100 million of the company’s common stock, representing about 7% of the company’s outstanding common shares based on current trading prices. The repurchase program has no expiration date but is intended to be accomplished by year end 2016.
“This share repurchase program reflects the Board’s confidence in the ongoing strength of LifeLock’s business and its deep commitment to enhancing value for shareholders through both the return of capital and investing to build on our strong record of growth,” said Roy A. Guthrie, Lead Independent Director.
Repurchases under the program may be made through open market or privately negotiated transactions at times and in such amounts as determined by LifeLock’s administration, subject to market conditions and in accordance with the requirements of the Securities and Exchange Commission. The program does not obligate LifeLock to repurchase any particular amount of the company’s common stock, and may be suspended or suspended at any time without notice. LifeLock had 95,515,268 shares outstanding as of October 30, 2015.
Life Lock, Inc. provides identity theft protection services for consumers; and consumer risk administration services for enterprises in the United States. It protects consumer subscribers through monitoring identity-related events, such as new account openings and credit-related applications; and enterprise customers through delivering on-demand identity risk, identity authentication, and credit information about consumers.
Shares of Honeywell International Inc. (NYSE:HON), inclined 0.19% to $104.15, during its last trading session.
Honeywell, declared that LUXI Chemical Group Co., Ltd. selected Honeywell process technology and automation controls to convert coal to key ingredients used to make plastics.
LUXI will use Honeywell UOP’s Advanced Methanol-to-Olefins (MTO) process to convert methanol derived from gasified coal into 293,000 metric tons per year of ethylene and propylene at its facility in Liaocheng, Shandong Province, China. The operations will be managed by a suite of automation and control technologies from Honeywell Process Solutions (HPS).
Global demand for ethylene and propylene is growing 4 to 5 percent per year. Traditionally, these petrochemicals are produced from crude oil. The MTO process allows producers in regions without abundant domestic supplies of crude to produce key plastic ingredients from natural gas or coal, which are often more abundant and cheaper.
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers and operators, airlines, military services, and defense and space contractors; and spare parts, and repair and maintenance services for the aftermarket.
Finally, Shares of McDermott International (NYSE:MDR), ended its last trade with -0.90% loss, and closed at $4.39.
McDermott International, declared that Scott Munro, McDermott’s Vice President, Americas, Europe and Africa, presented at the Cowen and Company 5th Ultimate Energy Conference in New York City on Tuesday, December 1, 2015 at 12:15 p.m. Central time/1:15 p.m. Eastern time.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.