STAAR Surgical Co (STAA) News & EventsSTAASTAAR Surgical Co

Staar Surgical Appoints Andrew Pilon as Vice President of Business Development

Staar Surgical (STAA) announced the appointment of Andrew Pilon, O.D. as Vice President of Business Development. Dr. Pilon will report to STAAR President and Chief Executive Officer Warren Foust and "will work closely with the Company's senior leadership team to capitalize on opportunities that support STAAR's innovation strategy and expand the Company's product portfolio," Staar stated. Dr. Pilon joins Staar from Johnson & Johnson Vision (JNJ), where he spent nearly six years as Senior Director of Business Development for the Surgical Vision division, the company noted.

Meta Platforms Stock Rises 4.5% to Year High

Major indices looked to be headed for a second consecutive sizable decline as rising Treasury yields continued to thwart the AI buildout narrative, though sentiment turned less panicked after headlines indicating that U.S and Iran discussing phased deal to reopen Hormuz Strait.  WTI Crude Oil - which had bounced above $96 per barrel - retreated to $94.  The yield on the 10-year had briefly fallen 4 basis points on the report to 5.13%, but traders faded the rally in Treasuries, and that yield ended the day back around the highs.Communication Services was the best performing sector in the benchmark S&P 500.  The sector is powered by the ongoing advance in Meta Platforms, where the 4.5% rise today following the company's VR Glasses and Muse Charm product announcementshas taken the stock to its highest level of the year.  Meta is now up 18% year-to-date and up 44% from its mid-August lows.  Basic Materials and Utilities were the worst performing sectors on Thursday.In the opening hour of the evening session, index futures are slightly lower, with S&P e-minis and Nasdaq 100 contracts both down 0.2%. In commodities, precious metals remain under modest pressure as US Dollar continues to advance with Gold just above $4,300 and Silver above $64 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Costco Wholesaleup 0.2%ALSO HIGHER -Akamai Technologiesup 22.2% after announcing $11.6B multi-year agreement with AnthropicPrime Medicineup 14.3% after FDA clearance of IND application for PM647Select Water Solutionsup 10.9% after announcing acquisition of Pilot Water Solutions for $700MAtlas Energy Solutionsup 8.6% after disclosing $340.5M contractPeople Incorporatedup 8.5% after WSJ report that MGM is considering bid for companySTAAR Surgicalup 4.7% after $50M buybackT-Mobile USup 1.0% after dividend increaseDOWN AFTER EARNINGS -Scholasticdown 11.9%Legacy Educationdown 10.7%Rezolutedown 2.5%ALSO LOWER -Zscalerdown 3.9% after announcing transition of Chief Revenue Officer

Staar Surgical Authorizes $50M Share Repurchase Program

Staar Surgical announced that its Board of Directors, at a regularly scheduled meeting, authorized a share repurchase program under which the company may repurchase up to $50M of its outstanding common stock. Under its buyback program, STAAR may repurchase shares in the open market, through privately negotiated transactions, by entering into structured repurchase agreements with third parties, by making block purchases, and/or pursuant to Rule 10b5-1 trading plans. The timing, manner, price, and amount of any repurchases under the program will be determined by STAAR in its discretion, subject to market conditions, legal requirements, and other considerations. STAAR is not obligated to repurchase any specific number of shares, and the program may be modified, suspended, or discontinued at any time, without prior notice. The share repurchase program is expected to continue over the next twelve months, unless extended or shortened by the Board of Directors. "The decision to authorize a share repurchase program reflects the confidence of the Board and management team in STAAR's business progress, as well as the Company's strong balance sheet and ample free cash flow. It also reflects our conclusion that STAAR is currently substantially undervalued, and we intend to repurchase shares at times when this dislocation exists," said Warren Foust, Chief Executive Officer of STAAR Surgical. "We are especially pleased with recent progress with respect to our three core strategic pillars - revenue growth, profit expansion, and innovation acceleration - which reinforce our confidence about STAAR's long-term future."