Cybersecurity co Telos surges on stock buyback plan

Telos

25/05/2022 15:14

** Telos Corp  TLS.O  shares up 12.6% at $8.82, on track for
biggest one-day gain in three months, as cybersecurity firm
looks to buy back some of its stock
    ** TLS late Tues announced $50 mln share repurchase program
to be funded from existing cash and future cash flow
 urn:newsml:reuters.com:*:nGNX6qrzRf
    ** Co had $120.2 mln in cash and equivalents at end-Mar
    ** TLS had roughly $530 mln market cap as of stock's last
close, per Refinitiv data
    ** With Weds advance, shares down ~43% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))