Cummins sets $500 million stock buyback plan

COLUMBUS, Ind. — Cummins said Wednesday it has entered into a $500 million accelerated stock repurchase agreement with Goldman Sachs & Co. LLC.

The engine maker’s stock edged up 0.2% in premarket trade. Under terms of the ASR, Cummins will buy back $500 million of its common stock from Goldman, with an initial delivery of about three million shares.

Read the full story from Market Watch.

Rebecca Smith

Rebecca Smith

Rebecca Smith is a Wisconsin native currently living in Illinois with her husband, Eric, and two dogs, Maggie and Grace. She enjoys hiking, biking, kayaking and, of course, camping in cabins and park models.

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