FINANCE

CVS Caremark board approves $2B share repurchase deal

BY CSA STAFF

Woonsocket, R.I. CVS Caremark Corp. announced that its board has approved a new share repurchase program for up to $2 billion of its stock.

It had completed its previous buyback program earlier this quarter. CVS had 1.36 billion shares on the market as of April 27.

CVS said the new buyback authorization is effective immediately and expires at the end of next year.

CVS Caremark said it repurchased about 16.7 million shares for about $613 million during the second quarter. That completed a $2 billion repurchase program authorized last November.

The new CVS buyback authorization comes as CVS and rival Walgreen Co. are taking shots at each other over CVS’ pharmacy benefits-management program.

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B&N introduces college study platform

BY CSA STAFF

NEW YORK Barnes & Noble announced that it has developed an integrated software solution for the higher education market. Called NOOKstudy, the feature rich, free software application is the ultimate study tool, enabling students to manage all their digital content – e-textbooks, class materials, and notes – on the computing device they rely on most, their PC or Mac, the company reported.

Among its features, NOOKstudy lets students view multiple books and sources at once and offers access to complementary content (e.g. toolsets, reference materials, etc.), as well as the ability to highlight and take notes that are searchable and customizable, said Barnes & Noble.

 

“NOOKstudy is a big win for college students: it will not only lighten their backpacks, but also help them save money and study more efficiently,” said Tracey Weber, EVP, textbooks and digital education for Barnes & Noble.com. “NOOKstudy is a revolutionary approach to learning that offers students access to the reading and organizational tools they need, across all content sources and formats, enabling them to study smarter, not harder.”

NOOKstudy will be compatible with the company’s entire catalog of e-books and digital content, including relevant study aids, test prep guides, periodicals, and hundreds of thousands of trade and professional titles. NOOKstudy will also enable students to save money, as e-textbooks offer up to 40% savings off new textbooks, the company reported.

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Advance Auto Parts enhances ‘Your Garage’ online service

BY CSA STAFF

ROANOKE Advance Auto Parts has announced the launch of a suite of new online service features as part of the fully enhanced “Your Garage” area on AdvanceAutoParts.com.

Customers can now get service alerts based on their vehicle’s mileage, diagnose problems, get servic cost estimates and find a mechanic, among other features.

 

“Advance is working hard to create customers for life by providing them the best experience in our industry, whether they are shopping in our stores, calling us on the phone or visiting our website,” said Scott Bauhofer, SVP and general manager for e-commerce. “These free enhancements are giving our customers even more reasons to only shop online with Advance Auto Parts and to visit us more often.”

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