FINWIRES · TerminalLIVE
FINWIRES

Fair Isaac Authorizes $2 Billion Share Buyback, Enters $1.5 Billion Loan Agreement

By

Fair Isaac (FICO) said Monday its board approved an open-ended stock buyback program of up to $2 billion to replace its previous authorization.

The company also said it amended its existing credit agreement to obtain a $1.5 billion incremental term loan on June 5 to fund an accelerated share purchase agreement with Wells Fargo (WFC) Securities for $1.5 billion of its common stock under the new authorization.

Fair Isaac said it will deliver an upfront payment of $1.5 billion to Wells Fargo Securities Monday and anticipates to initially receive roughly 1.1 million common shares. The accelerated share purchase deal is expected to conclude on Sept. 30, the company said.

Shares of the company were up more than 1% in Monday trading.

Price: $1150.07, Change: $+12.72, Percent Change: +1.12%

Related Articles

Wire

Top Cryptocurrencies Fall; Bitcoin Drops Below $61,000 Level

Top cryptocurrencies fell Friday, with Bitcoin (BTC-USD) falling below the $61,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 9.3% in the past 24 hours. The Nasdaq 100 dropped 4.5%, the S&P 500 declined 2.4%, and the Dow Jones Industrial Average fell 1.2%.Bitcoin fell 5.2% to $60,177, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume declined 1.8% to $66.16 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, fell 11.4% to $1,570.XRP (XRP-USD) dropped 6.4%, BNB (BNB-USD) fell 6.3%, and Solana (SOL-USD) shed 8.2%. Dogecoin (DOGE-USD) declined 8.5%, and Cardano (ADA-USD) lost 13.7%.The US 10-year Treasury yield stood at 4.534% at 3 p.m. ET Friday, up from 4.476% Thursday, while the five-year yield rose to 4.276% from 4.186%.The total market value of the cryptocurrency industry fell 5.8% in the past 24 hours to $2.05 trillion, with trading volume rising 2.6% to $158.92 billion.Price: $60361.64, Change: $-3450.54, Percent Change: -5.41%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD
Wire

Cognizant Unveils AI Platform to Link Robots, Sensors, Industrial Systems

Cognizant Technology Solutions (CTSH) launched a new platform that uses artificial intelligence to control and coordinate systems including robots, sensors, and industrial equipment through a cloud-based service.The platform, built on the company's "Intelligence Spine" data-integration framework, is designed to help organizations link their physical infrastructure with AI tools more easily, Cognizant said Friday in a statement.The service will be available across sectors including utilities, oil and gas, manufacturing, logistics, aerospace, healthcare, and consumer and retail sectors, Cognizant said.The technology brings together capabilities such as computer vision, sensing, location tracking, and fast device-to-device communication, allowing businesses to automate tasks and direct physical operations with greater precision, the company said.Price: $53.06, Change: $-0.34, Percent Change: -0.64%

$CTSH
Wire

SpaceX Signs $920 Million Monthly Cloud Deal With Google

SpaceX has entered into a cloud services agreement with Alphabet's (GOOGL) Google, providing access to about 110,000 NVIDIA GPUs along with CPUs, memory and related components, the company said Friday.Under the agreement, Google will pay SpaceX $920 million per month from October 2026 through June 2029, with capacity ramping up through September at a reduced fee, SpaceX said.If SpaceX fails to deliver the committed GPU capacity by September 30, Google may terminate the agreement or accept a reduced allocation at a proportionally lower fee following a one-month grace period, the company said, adding that after December 31, 2026, either party may exit the deal with 90 days' notice.Price: $364.77, Change: $-7.42, Percent Change: -1.99%

$GOOGL$SPCX