Major Companies Report Strong Profits
UBS reported fourth quarter earnings on Wednesday. The bank made $1.2 billion profit.
This beat what experts expected. UBS plans to buy back $3 billion in stock.
Yum China also reported better profits than expected. The company runs fast-food restaurants in China.
It did well despite a price war. Food delivery companies were cutting prices.
Klear Note — Stock buybacks happen when companies use profits to repurchase their own shares. This can increase value for remaining shareholders. Strong earnings reports show company health and often boost stock prices.