InMode Ltd. ($INMD) has announced a share repurchase program of up to 7.68 million shares. This decision comes despite previous statements from the CEO against buybacks. In the shipping sector, several companies, including International Seaways Inc. ($INSW), Star Bulk Carriers ($SBLK), and Scorpio Tankers ($STNG), have also announced significant share repurchase programs. International Seaways repurchased 502,000 shares for $25 million in the past week. The tanker market has seen a notable increase in spot rates, with VLCC rates up 16%, Aframax up 4%, and LR1 up 3%. Meanwhile, the Capesize index has fluctuated, with a recent increase to 27,968 points. Container freight rates have also experienced significant changes, with the Shanghai export container settlement freight index for the North America route dropping nearly 40% from July highs.
Biggest ever one-week drop in cost of shipping a container from Shanghai to New York. Since hitting a July peak below $6000 pr 40ft box, the Drewy global #container #shipping index has seen a sharp reversal, slumping 13% this past week alone to $4168, slowing the YTD advance to… https://t.co/DB0IhyOvbx
Not surprising that the $ZIM short position spiked during its post earnings slide… but a 50% increase? Wow … playing with fire. Highest since mid May. https://t.co/AGCQUxPyMX
Build-A-Bear Workshop, Inc. Adopts Share Repurchase Program of up to $100 Million and Declares Quarterly Cash Dividend https://t.co/jgWhUN4W2D https://t.co/IYBwhT2IF3