Chinese Online Leisure Travel Company High on Share Repurchase Program

Share repurchase program signal undervaluation

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Jan 15, 2018
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U.S. stocks ended up on Friday with all the benchmark indexes in green territory. The Dow advanced 0.89%, the S&P 500 gained 0.67% and the Nasdaq climbed 0.68%.

Shares of Tuniu Corporation(TOUR, Financial) traded higher on Friday after news that the board of directors authorized a share repurchase program of up to $100 million worth of its ordinary shares or American depositary receipts.Â

Further, the company has made some changes in the key personnel. Shihong Chen was promoted to chief technology officer from vice president and is expected to develop technology that provides high-quality travel products and services.

Gainers

• Viacom Inc. (VIAB)

• Seagate Technology PLC (STX)

• Kohls Corp. (KSS)

• TripAdvisor Inc. (TRIP)

• Nordstrom Inc. (JWN)

Losers

• Aflac Inc. (AFL)

• Facebook Inc.”‹ (FB)

• Essex Property Trust Inc. (ESS)

• Digital Realty Trust Inc. (DLR)

• American Electric Power Company Inc. (AEP)

The main European stock markets traded lower. The U.K.'s FTSE lost 0.12%, France's CAC retreated 0.13% and Germany's Dax fell 0.34%, while Spain's Ibex gained 0.05%.

In Asia, Japan's Nikkei advanced 0.26% and India’s BSE Sensex gained 0.73%, while Hong Kong's Hang Seng declined 0.23% and China´s SSE Composite slid 0.54%.

Disclosure: The author holds no positions in any stocks mentioned.