Tal Education ADRs rise after Q4 beat, share buyback; peers rise

New Oriental Education & Technology

25/04/2024 12:59

** U.S.-listed shares of online education firm TAL Education
Group  TAL.N  up ~7% at $13.13 premarket 
    ** Tal's Q4 results beat estimates and co extends its
existing share buyback plan
    ** Expects to repurchase about $503.9 mln shares in the next
12 months that it aims to fund out of its existing cash balance
    ** Other Chinese education stocks rise: Gaotu Techedu
 GOTU.N  up 3.3%, New Oriental Education & Technology Group Inc
 EDU.N  adds 3.1%
    ** TAL shares down 3% YTD compared to 78% surge in GOTU and
5.2% rise in EDU

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))