Aug 25- An activist investor urged women's apparel retailer Ann Inc to sell itself, saying it could fetch as much as $2.52 billion, failing which each of the company's board members should buy back stock as a "sign of confidence".» Read More
Corporate America is on a share buyback binge, fueling concerns that U.S. companies are masking underlying business problems and trying to pump up their executives' compensation.
Despite anxiety over subprime loans, tightening credit and weak housing, the U.S. stock market seems to keep bouncing back. Why? On "Morning Call," Bill Schultz, chief investment officer at McQueen, Ball & Associates, and David Dietze, president & chief investment strategist at Point View Financial Services, offered their takes.
Johnson & Johnson said on Monday its board of directors approved the repurchase of up to $10 billion of its common stock.
Integrated gas and electric company Dominion Resources said Thursday it will launch a self-tender offer to buy back about 55 million of its common shares for $82 to $92 per share.
Best Buy said on Wednesday that it would open more North American stores than previously planned, buy back $5.5 billion in stock and raise its dividend by 30 percent.
CKX agreed to be acquired by a group led by its chief executive for $13.75 a share in cash, sending its shares spiraling higher.
Lowe's said Friday its board approved a $3 billion increase to the home improvement retailer's stock buyback program through fiscal 2009 and increased its dividend.
Dutch retailer Ahold said on Wednesday it plans a reverse share split as part of a proposal to return 3 billion euros ($4.03 billion) to shareholders following the sale of a U.S. asset.
Share buybacks are seen driving the market rally. But is the record buyback level really a good thing? Jerry Castellini thinks so. The president and CIO of CastleArk Management explained his optimism to "Squawk on the Street" viewers.
Sun Microsystems authorized a stock buyback plan of $3 billion, the company announced Wednesday after the close. Shares soared on the news, rising more than 4% in after-hours trading.
Ajay Kapur says "10% of the U.S. economy...is slowing down." So why is the chief investment officer of First Horse Capital still so bullish on American equities? He explained his optimism to CNBC's Mark Haines, on "Squawk on the Street."
Investment bank Merrill Lynch said on Monday that it will buy back as much as $6 billion of its common stock over time.
An increasing number of share buybacks may be helping to prop up the market, reports CNBC’s Steve Liesman.
Economists aren’t sure why capital spending is slowing, but fret that the downturn may signal a coming recession, CNBC's Steve Liesman reports.“It bothers me whenever I see capital expenditures slowing because, historically, it’s been such a critical part of the economy,” Maury Harris, chief economist at UBS told Liesman. “This is happening at the same time that we have an on-going housing recession. I think it raises some red flags on the economy.”
3i Group, Europe's largest publicly traded private equity company, said Thursday it will return 800 million pounds ($1.6 billion;1.2 billion euros) to shareholders after selling some of its assets.
CBS, producer of "60 Minutes" and the crime series "CSI," said Tuesday it is buying back about 47 million shares of its Class B stock for $1.4 billion through an accelerated repurchase transaction.
Dow component Honeywell International said Friday its board of directors authorized the company to buy back up to $3 billion in common stock.
"3M is another example of Corporate America utilizing its balance sheet to maximize shareholder returns," Goldman Sachs analyst Jack Kelly said in a research note.
TJX, which owns clothing discounters T.J. Maxx and Marshalls, said on Friday that it authorized a new program to repurchase up to $1 billion of its common stock.
After a year of record profits, Wall Street firms are returning millions of dollars to their shareholders through dividends and buybacks.