Sterling Infrastructure Buys Back $400M Stock, Shares Rise

Sterling Infrastructures stock price surged after its board approved a $400 million stock buyback plan, reflecting CEO Joe Cutillos confidence in the companys future. The move came amidst strong third-quarter results and a record $2.6 billion in future work. Despite initial volatility, the stock closed up 2.8%, signaling market approval of the news. This positive development unfolded on a generally upbeat market day, with hopes of a government shutdown resolution and a rebound in regional bank shares.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.