Business briefs" Apple buys back 14B in stock

February 8, 2014 

Apple buys back 14B in stock

NEW YORK -- Apple has repurchased $14 billion of its stock in the two weeks after its first-quarter financial results and second-quarter revenue outlook disappointed investors.

The buyback news helped lift Apple's stock by more than 1 percent Friday.

Apple Inc. bought $12 billion worth of its shares through an accelerated repurchase program and $2 billion on the open market, the company confirmed.

The company stepped its investments because CEO Tim Cook believed the stock had become a bargain after a recent downturn.

Business leaders to lobby lawmakers in capital

TALLAHASSEE -- Business leaders from throughout Florida will gather in Tallahassee on Feb. 10-12 for the Florida Chamber of Commerce's annual Board of Governors Capitol Days.

The goal is to have them direct their focus on making Florida more competitive. The conference is scheduled to be held at Florida State University's Turnbull Center in Tallahassee, The Florida Chamber's Capitol Days provides business owners the opportunity to hear from Florida's top elected leaders, discuss legislative initiatives that will help make Florida more competitive, meet with lawmakers and advocate the Florida Chamber's 2014 Competitiveness Agenda.

WellCare signs state Medicaid contract

TAMPA -- WellCare Health Plans, Inc. today announced that its Staywell Health Plan has signed a contract with the Florida Agency for Health Care Administration to provide managed care services to Medicaid recipients in eight regions as part of the state's Managed Medical Assistance program.

WellCare's Staywell Health Plan will serve Floridians in the Managed Medical Assistance program who live in regions that include the Tallahassee, Gainesville, Jacksonville, Tampa-St. Petersburg, Orlando, Fort Meyers and Miami metropolitan areas.

As of Sept. 30, 2013, WellCare serves approximately 390,000 Medicaid plan members, 84,000 Florida Healthy Kids members, 80,000 Medicare Advantage plan members and 39,000 Medicare Prescription Drug Plan members in Florida.

Oil briefly tops $100 as demand for fuel rises

NEW YORK -- The price of oil briefly rose above $100 a barrel for the first time this year on rising demand for fuel and some positive sentiment about the U.S. job market.

Benchmark U.S. crude for March delivery gained $2.04, or 2.1 percent, to close at $99.88 a barrel the New York Mercantile Exchange. Oil climbed to $100.21 in the afternoon before dropping back. Oil last topped $100 on Dec. 30.

Energy analyst Stephen Schork said oil's rise was brought about by rising prices for wholesale gasoline and low supplies of diesel and heating oil. That combination will encourage refiners to buy and process more crude oil.

-- Herald staff and wire reports

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