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Walt Disney Co. increasing stock buybacks

Leah Zanolla | Posted: Sep 15, 2013 | Updated: Oct 19, 2014 - 9:25:27 AM
Next year, the Walt Disney Co. is going to increase their amount of stock buybacks by almost double. According to Chief Financial Officer Jay Rasulo, the company has been spending about $4 billion on repurchasing their shares; in 2014, that amount will increase to $6-8 billion. He said the action is the result of the company is feeling confident about upcoming movie releases. After Rasulo's remarks, the price of Disney shares went up 2.5 percent to $65.57.