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Cooper Companies Jumps 8.6% on Record Q2 Sales and $1.14B Buyback Completion
- The Cooper Companies reported record second-quarter sales and completed a massive share buyback program.
- Shares rose 8.6% to close at $67.34 on heavy volume of 9.08 million shares, despite a GAAP net loss from a litigation charge.
- The strong underlying sales growth and raised non-GAAP outlook reassured investors of the company's long-term health.
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Conclusion
Cooper Companies reported Q2 sales of $1,081.5 million and completed a $1.14 billion share buyback. On June 5, COO closed at $67.34, up from $62.02 on June 4, on volume of 9,084,331 shares.