MasTec is trading 5.19% higher at $165.15 on November 6, with the rebound following its decision to suspend late-stage negotiations for a large potential acquisition and prioritize share repurchases.
- Its full $250 million authorization is available, but MasTec did not commit to buying a particular amount of stock.
- The Nasdaq is up 1.66% and the S&P 500 is up 0.84%; the company announcement is the clearest catalyst after two sharp down sessions.