Nu Skin Doubles Stock Buyback Plan To $500 Mln

By Sue ChangMarketWatch Pulse

Nu Skin Enterprises Inc. said late Thursday its board approved increasing the stock buyback plan by $260 million to $500 million. "We plan to use our financial strength to repurchase shares and create shareholder value," Chief Financial Officer Ritch Wood said in a statement. Nu Skin's stock slumped 15% this month after the direct-marketing anti-aging products company projected a weak third-quarter revenue outlook due to slow sales in China. Shares of Nu Skin were off 1% in after-hours session.

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