Acme Packet said its board has approved the buyback of up to $200 million worth of its common stock over the next year.
Shares of the Bedford, Mass.-based data delivery technology company were up more than 6% in after-hours action. Based on Thursday's regular session close at $15.61, the stock iss down nearly 50% so far in 2012.
Acme Packet, which warned last week, said it plans to release its second-quarter results on July 26, and the company said on July 6 that it expects to report a non-GAAP profit of 12 to 13 cents a share for the June-ended period on revenue of between $66 million to $68 million.
New York & Co.
New York & Co. said it expects its second-quarter results to exceed previous expectations. The company now sees an operating loss of $5 million to $7 million for the quarter vs. a loss of $15.1 million in the same period a year earlier.
The specialty apparel retailer anticipates same-store sales to be "slightly up" for the quarter. The company's stock closed Thursday at $3.54, up more than 30% year-to-date.
"We are encouraged by our second quarter performance to date which reflects strong product acceptance across our summer assortments, particularly during the Mother's Day period, and continued progress on our strategic initiatives," said Gregory Scott, the company's chief financial officer, in a statement. "As a result, we expect to significantly narrow our second quarter operating loss from last year."
Written by Michael Baron in New York.
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