Enter multiple symbols separated by commas

Merrill Lynch Approves $6 Billion Stock Buyback Plan

Investment bank Merrill Lynch said on Monday that it will buy back as much as $6 billion of its common stock over time.

Merrill said the buyback authorization will help it balance its goals of boosting return on equity and increasing book value per share. It said its top priority will be investing in growth opportunities, but excess capital will be used for repurchases.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Yellen: Negative side of falling oil

    Federal Reserve Chair Janet Yellen addresses the slowdown in energy, saying to keep in mind the U.S. is still a net importer of oil.

  • Yellen: US economy well positioned for growth

    Federal Reserve Chair Janet Yellen speaks at Greater Providence Chamber of Commerce, on economic headwinds weighing on the market, and reasons she's confident the economy will grow.

  • NYSE gets new digs

    CNBC's Bob Pisani takes a tour of the first top to bottom renovation of the NYSE in nearly a century, with NYSE President Tom Farley.