buyback

The DLF Buyback offerdrama continues to unfold in the markets. After witnessing its highest ever single day gain yesterday, the share prices of DLF seem to be back to square one today, after registering the highest every single day fall ever since its IPO last year. Shareholders have realised that DLF would be able to [...]

AutoZone, Inc. (AZO) today announced that its Board of Directors has authorized the repurchase of an additional $500 million of the Company's stock, bringing its current unused repurchase authorization to $608 million. Including the additional authorization, the cumulative share repurchase authorization approved by its Board since 1998 totals $6.4 billion. Additionally, as part of the Company's o

JDS Uniphase Inc. (NASDAQ: JDSU) has just announced that its board of directors has authorized the repurchase of up to $200 million in shares of common stock.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Software services firm Mastek Ltd said on Monday it has postponed its buyback of shares, pending receipt of the observations from Securities and Exchange Board of India on its public announcement for the buyback.The buyback, approved on October 11 last year, was to have started on Monday. Shares in the company closed down 5.2 percent at 316.10 rupees in the Mumbai market.

Hansen Natural Corporation (NASDAQ:HANS) has announced a new share buyback program for up to $200 million of its own common stock. The Board of Directors has... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Shares of International Business Machines Corp. (NYSE: IBM) are initially surging after earnings. Big Blue posted $1.65 EPS on $24.5 Billion in revenues, while... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Saigon Securities Incorporation (SSI), the country’s largest brokerage, will increase its share buyback from one million to three million shares, according to a statement it posted on its website Tuesday. The move was meant to restore calm among shareholders, who were unhappy as the share price plunged 30.2% this... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

SWIR - Sierra Wireless (NASDAQ) - (Closing Price - $18.43)   Yesterday, Sierra Wireless announced it agreed to buy privately held CradlePoint Inc, which develops and supplies wireless networking products, in a cash and stock deal worth about 30.2 million. The company expects the deal to add to earnings by the end of 2008, excluding restructuring and integration [...]

Savimex Economic Cooperation and Import-Export Joint Stock Company announces the result of share buyback as treasury shares. * Volume of treasury shares before trading: 104,100 shares * Volume bought back: 50,000 shares * Volume of treasury shares after trading: 154,000 shares * Trading time: From March 12 to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Phu Phong Corporation announces to buy back shares as treasury shares * Volume of shares registered to buy back: 80,000 shares * Capital source: From retained profit and capital surplus * Method: Quotation and negotiation * Expected trading time: From March 31 to June 30, 2008 * Authorized trader: BIDV... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

There was an absence of major buyback announcements this week. That coincides with the lack of as many earnings reports as well. Below are some of the standout... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

MUMBAI: Anil Ambani's Reliance Energy (REL) said on Wednesday that it would buy back shares worth up to Rs 2,000 crore at a price of up to Rs 1,600 a share, a 9.6% premium over Wednesday's closing price. With the fund allocated for buyback, the 1 Vote(s)

MUMBAI: Anil Ambani’s Reliance Energy (REL) said on Wednesday that it would buy back shares worth up to Rs 2,000 crore at a price of up to Rs 1,600 a share, a 9.6% premium over Wednesday’s closing price. With the fund allocated for buyback, the company could purchase around 1.25 crore shares from the open market, which would raise promoter’s stake by 1.5% to 37% on a reduced equity base, said a senior company executive. The REL board, which met on Wednesday, has decided to complete the buyback in two phases. The company will release Rs 800 crore in the first tranche, while the remaining Rs 1,200 crore will be allotted in the second phase, subject to shareholders’ approval. The buyback is to “reduce short-term volatility in the company’s share price and deter speculative activit

The board of Reliance Energy Ltd on Wednesday approved a Rs 2,000-crore share buyback, in a bid to shore up its market value. The company proposes to buy its own share at a maximum price of Rs 1,600... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Reliance Energy board informed the market that they have approved the BuyBack of share which had been set to a level of Max Rs 1600 per share.The buyback has been approved upto Rs 2000 crore. This makes the buyback upto 4.5% of the company’s fully diluted equity. Reliance Energy is looking to buyback upto 25% [...]

Giant Interactive Group Inc. said Monday that the online game developer's board has approved a buyback program for up to $200 million of its outstanding American Depositary Shares. The China-based company expects to buy back stock over the next 12 months in open-market and other transactions. Giant plans to fund the repurchases from available working capital. Chairman and Chief Executive Yuzhu Shi said the company's current share price does not reflect its potential value. "Furthermore," Shi said, "we firmly believe that our availab

I just wanted to point readers to these two high quality companies that have initiated massive share buybacks.1. Cisco (CSCO) – Cisco just increased the amount of their share buyback plan by $10 billion bringing their total buyback program up to $62 billion. With a market cap of 170 billion this buyback represents approximately 36% of their outstanding shares. In further support of the stock David Dreman, a respected and successful value investor has recently been a buyer.2. American International Group (AIG) – AIG has been aggressively buying back it’s shares over the last year (69 million shares) and will be adding another $8 billion to it’s buyback plan. Supporters of the stock include famous investors Micheal Price and Bruce Kovner who both have positions in AIG.In my opinion any company that is undertaking massive share buybacks are at least worth taking a look at, as it indicates that the management of the company believes that the shares are fundamentally undervalued and

Target (TGT) announced earnings this morning and while the EPS numbers were not good, (below estimates), revenues were good (up 9.3%). This is good news for folks like Wal-Mart (WMT) because it means people are still shopping at discount retailers. since nobody controls costs like Wal-Mart does, investor ought to be comforted that folks are still spending. Here is more bad news. If we back out the credit card operations that Bill Ackman has them selling, EBIT in 2007 was $801 million vs... Continued at Todd Sullivan's ValuePlays

Shares of Target Corp. (NYSE:TGT) are trading higher despite what might be a somewhat disappointing earnings number. The company posted EPS at $0.56, although... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

That did not take long. Anyone care to wager the doomed from the beginning share repurchase plan at Home Depot (HD) is not completed next year either? Aside from suspending the buyback plans, they also said the recapitalization plan under which they planned to buy back $22.5 billion in stock would not be completed this year. Under that plan, the company bought back about 290 million common shares for $10.7 billion earlier this year in a tender offer. Most of those repurchases were done with... Continued at Todd Sullivan's ValuePlays

Pirelli & C on Friday it announced plans for an extraordinary dividend, a share buyback and an offer to repurchase a stake in its tire business, meeting market expectations.Flush with billions of euros of cash from the sale of its stake in Telecom Italia , the Italian holding company proposed an extraordinary dividend of 0.154 euros per share for a total of about 827 million euros.It said it would keep another 408 million euros in reserve to buy back its own shares at an "opportune" time.

Altria (MO) assured investors that there would be share repurchases today on the earnings conference call. Atria VP Dinny Devitre said "The Altria board will specify the share buy-back program and we will announce it sometime before the spin." There was the following exchange between Devitre and JP Morgan's (JPM) Erik Bloomquist. Dinny Devitre The only thing clarification I can give is I'm talking about the current Altria board. Erik Bloomquist - JP Morgan Okay, and so that will be a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Mastek Ltd has informed that the Board of Directors of the Company at its meeting held on October 11, 2007, inter alia, has: 1. Appointed Mr. Rajesh Mashruwala, as an Additional Director of the Company. 2. Approved the buyback of the Companys equity shares upto an aggregate amount of Rs 65 crores, being within 25% of the total paid-up capital and free reserves as per the audited Balance Sheet as at June 30, 2007, subject to the approval of the shareholders through postal ballot. The Company proposes to buy back shares through open market purchases from time to time.

From BloombergAug. 24 (Bloomberg) -- Bank of America Corp. got a sweetheart deal in return for its $2 billion investment in Countrywide Financial Corp., the largest U.S. mortgage lender.The convertible preferred stock that Bank of America received pays a higher dividend than two earlier series that can't be swapped for common shares, according to data compiled by Bloomberg.At 7.25 percent, the payout also surpasses the interest rate on all but one of about 590 bond issues from Countrywide and its units, Bloomberg's data shows.Then there's the conversion price of $18 a share. Since September 2003, Countrywide has changed hands for less on only one day: Aug. 16, when the Calabasas, California-based company tapped a bank credit line for $11.5 billion in financing.The price is 18 percent below the stock's close of $21.82 two days ago, when the investment was announced. An option with terms comparable to those for converting the preferred would be worth more than $900 million, according

Today we continued to see companies announcing new or adding to existing share buyback plans. These... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

It looks like the Home Depot Supply unit sale that was scheduled to close today won't get done. Home Depot (HD) said earlier this month that it was in talks with buyers Bain Capital, the Carlyle Group and Clayton Dubilier & Rice about a restructuring of the $10.3 billion all-cash deal that was to partially fund a $22.5 billion stock repurchase plan. According to The Financial Times, the new terms would include a lower price designed to entice Merrill Lynch (MER), Lehman Brothers (LEH) and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Home Depot (HD) released earnings today and it was just ugly. It also will lead to the death of the Supply division and a drastic reduction of the massive buyback that was announced because without one, the other cannot happen. Even if I am wrong and they do manage to sell Supply, it will be for such a reduced price that the buyback will still be reduced even father than already announced. First, earnings. 2007 Q2 consolidated net earnings of $1.6 billion, or $0.81 per share, compared... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Yesterday I said the only thing I really cared about was the number of shares Wal-Mart (WMT) bought back in the last three months and a minimum of 22 million shares was the number I was looking for. The results were released today and the share count was reduce from 4,128,0000 shares to 4,102,000 in the last three months for a total 26 million share reduction. Good, but for some reason I am not totally happy. The reason? They updated their full year guidance for earnings per share from... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Earlier this week I asked the question, "Is Home Depot's Buyback At Risk?". Well, Home Depot (HD) today said it is in talks with the three private equity firms that agreed to buy its supply unit and the subject will not please shareholders. The discussions will lead to a lower price than the previously announced $10.325 billion. The nation’s largest home-improvement retailer is talking to Bain Capital, the Carlyle Group and Clayton Dubilier and Rice about “material changes to the terms and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Home Depot (HD) had it's credit rating downgraded last month because of it's plans to tap the credit markets to accomplish it's $15 billion share repurchase plan. With the recent credit market tightening out there, will that buyback or a substantial part of it be put on the shelf? When they announced the ambitious plan, Home Depot said they would accomplish it "as soon as practicable". Which means, well, nothing. They have announced a tender offer for shares but it remains to be seen how... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Last week I lamented about Home Depot's buyback begging for "details boys... details" Execs at Home Depot (HD) should read Best Buy's (BBY) announcement today. In announcing a $5.5 billion share repurchase, Best Buy said it has used a portion of this new share repurchase program immediately to execute an accelerated share repurchase program, with Goldman Sachs(GS) as counterparty, for the buyback of $3 billion of stock no later than February 2008. The company expects to fund the $3 billion... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Andy Kern over at Berkshire Ruminations sent me this share repurchase study from 1998 in response to my Home Depot (HD) post. It is very detailed and informative. The authors found: - 74% to 82% of firm announcing buybacks actually repurchase the number if shares they originally intend to within 3 years. - 57% repurchased more than they originally intended to 3 years later - 30% repurchased more than twice the original amount 3 years later. You can read it here. Now, seeing as the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

So the Home Depot (HD) made a splash this afternoon with the announced $22.5 billion buyback. But they failed to answer one little question... when? The board of directors authorized a $22.5 billion increase in its share repurchase program and stated their intent to repurchase up to $22.5 billion in shares as soon as practicable. It will be funded with the proceeds from the sale of HD Supply, existing cash on hand and proceeds from an anticipated $12 billion issuance of senior unsecured... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Ask most investors about how buying a stock can help them build wealth, and the answer you will get is by two ways, stock price appreciation and dividends. However many overlook the third way, stock buyback. Let us find out more about this third way.The Meaning of BuybacksA stock buyback is nothing but a company buying back its shares from the marketplace. Buyback can be thought as a company investing in itself. With the extra cash in hand, the company can use it to buy its own shares. These shares are absorbed by the company leading to reduced number of outstanding shares in the market. When this happens, the ownership of each investor increases because there are fewer shares in all. Company buybacks are usually perceived by the market as a positive thing which often causes the share price to shoot up.Typically, buybacks are carried out in one of two ways:Tender Offer: Shareholders may be presented with a tender offer by the company to tender a portion or all of their shares within a

Well this is a timely opportunity for me to spout off about the property market. I have a house in London, all paid for, so the staggering price rises are good news for me. But if I was trying to get started in housebuying now, I don’t see what I would do. Prices in all respectable parts of the UK seem to spiral in and unending vortex. We have recently been househunting in est Sussex for my Mother with the proceeds of her two bed terraced house in a hot area of south London. What could we get? Another two bed terraced house in a reasonable part of a seaside town. With the next generation facing mortgage multiples of 5 X income, I am not surprised that the number of repossessed properties is rising. Then this week I saw for the first time a house owner putting the home up for sale with himself as the sitting tenant! There is a name for this situation, it is called Sell to Rent, and if you find yourself in dire straits with your mortgage I think it is a better bet than allo

Erie County Medical Center is supporting Mayor Byron Brown’s proposed gun buyback program with a $10,000 donation. The funding — and a challenge to other area businesses to commit funds to back the program — was announced during a press conference Friday morning. The mayor’s proposed gun buyback program to get illegal weapons off the streets is a component of a multifaceted approach to curbing crime. With all the talk about the high cost of too many hospitals, why is ECMC donating money for this program?  It makes no sense. Gun buyback programs are nothing more than a publicity stunt, wasting the taxpayers’ money, designed to make the politicians look good.  Buyback programs do not lower crime.  Buyback programs do not address the causes of crimes. Politicians need to wake up and take actions that have a real and verifiable affect on shooting crimes.  A good first step would be to acknowledge the fact that many innocent people ar

When a company announces a buyback, it means that the company is going out and buying shares of its own company on the open market. This is generally very bullish for stocks, since it shows confidence by executives in their own companies, reduces the number of shares outstanding. With the reduction of shares in the market the demand of the stock normally goes up. This is also good news for the