March 3- Best Buy Co Inc, the largest U.S. consumer electronics chain, on Tuesday reported higher-than-expected quarterly earnings on a strong holiday season and said it would buy back stock for the first time since 2012.. Chief Executive Officer Hubert Joly said on a conference call that Best Buy planned this year to start a cost-cutting effort to save $400...» Read More
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.
World's biggest aluminum maker Alcoa said its board authorized a buyback of about 87 million shares and a more than 13% increase in its annual dividend.
Another twist in the controversy over stock options. A new academic study on backdating suggests many outside directors--who are supposed to safeguard against cozy relationships with management--received manipulated grants themselves. Alan Murray is Managing Editor of The Wall Street Journal. He was on "Morning Call" to discuss the issue.