Website development company Wix.com (WIX.US) was in the spotlight on Thursday. The company announced it expects to repurchase approximately 18.7 million shares at $92 per share through a Dutch auction tender offer. Wix's stock price fell sharply during the session, erasing all pre-market gains and ultimately closing down 9.45%. In a statement, Wix said the expected repurchase of 18,718,009 shares would cost approximately $1.722 billion. As of April 1, these 18.7 million shares represent about 31.6% of the company's total outstanding shares. The final number of shares repurchased and the price may still be adjusted. J.P. Morgan is acting as the dealer manager for the tender offer. Last month, Wix stated it planned to deploy approximately $1.75 billion in a modified Dutch auction, with an expected repurchase price range of $80 to $92 per share.

Separately, UBS downgraded Wix from 'Buy' to 'Neutral' on the same day, citing concerns over its future growth. Analyst Christopher Zhang noted in a report to clients, "Wix's 2026 outlook indicates that its core business growth will slow from around 12% in 2026 to about 8%, with further deceleration expected into 2027 and beyond. We anticipate that impaired core business growth, combined with significant investment and uncertainty related to Base44, will cause Wix to slightly fall short of the 'Rule of 40' requirement for more than three years ahead."