US Stock Movers On Stock Repurchase (SYY, PKI, EGHT, USNA)

SYSCO Corporation (NYSE:SYY) shares are up 1% to $27.76 it disclosed that on August 27, 2010, the Board approved a 20 million share repurchase program.

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The company prior program has approximately 2.2 million shares remaining.

PerkinElmer, Inc. (NYSE:PKI) share rose 3.33% to $21.71 after it announced an agreement to sell its Illumination and Detection Solutions (IDS) business to Veritas Capital Fund III, L.P., a New York-based private equity firm, for approximately $500 million in cash ($482 million net of payment for acquired cash balances).

As a result of the agreement to sell IDS, the Company will report the financial results for IDS as a discontinued operation. Consequently, for Q3, the Company forecasts organic revenue to grow at a high single digit rate and now forecasts GAAP earnings per share from continuing operations in the range of $0.19 to $0.21. On a non-GAAP basis PKI now forecasts adjusted earnings per share from continuing operations in the range of $0.27 to $0.29. (Consensus is $0.35).

8x8, Inc. (NASDAQ:EGHT) shares jumped 3.65% to $1.42 after the company announces a 50% increase in the company's stock buyback program from $2 million to $3 million.

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8x8, Inc. (8x8) develops and markets telecommunications services for Internet protocol (IP), telephony and video applications, as well as Web-based conferencing and unified communications services.

USANA Health Sciences, Inc. (NASDAQ:USNA) surged 0.60% to $42.75 after it announces that its Board has authorized an additional $40 million stock buyback.

Repurchases will be made in accordance with USANA’s active share repurchase program in the open market, through block trades or otherwise.

USANA Health Sciences, Inc. (USANA) develops and manufactures high-quality, science-based nutritional and personal care products, with a commitment to continuous product innovation and sound scientific research.

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