Along with filing its Q4 earnings, Facebook (NASDAQ:FB) submitted a filing noting it’s announced an increase of $10B in stock repurchase authorization.
The board has previously authorized buybacks up to $24B, and this increase is incremental to past authorizations.
There’s no expiration date on the buyback program.
Shares are now down 6.4% postmarket.
Samsung releases the first 5G tablet
Samsung (OTC:SSNNF,OTC:SSNLF) officially announces the Galaxy Tab S6 5G, a new version of the Tab model released last year.
The new tablet’s main change is the addition of a Qualcomm Snapdragon X50 5G modem.
The Galaxy Tab S6 5G is only available in South Korea for now and costs about $848 for a configuration that has 6GB of RAM and 128GB of storage.
Google temporarily shutting China offices
Google (GOOG +0.4%)(GOOGL +0.6%) is temporarily shutting its offices in mainland China, Taiwan, and Hong Kong due to the coronavirus outbreak.
The offices are currently closed for the extended Lunar New Year holiday, but Google now plans to keep the offices closed in accordance with government guidance.
The tech giant will also place temporary business travel restrictions on flights to mainland China and Hong Kong.
Microsoft launches $40M AI for Health program
Microsoft (MSFT +1.9%) launches a new outgrowth of its AI for Good initiative that hopes to address world health challenges.
AI for Health will ensure that nonprofits, universities, and research organizations have access to the latest tech and resources to use AI to accelerate research and improve care access.
Microsoft will build on partnerships with medical researchers working on SIDS, leprosy, diabetic retinopathy, and maternal mortality, to name a few.
Lyft announcing restructuring plans – NYT
Lyft (NASDAQ:LYFT) will announce a corporate restructuring today that will include job cuts, according to The New York Times sources.
The ride-hail giant and rival Uber were among the tech IPO stumbles last year, and both now face questions as to whether the companies can make money.
In October, Lyft said it was working on plans to become profitable and could, excluding some costs, hit that mark by late 2021.
