At TheStreet.com's Stockpickr, James Altucher singles out some stocks that have two things going for them. First, they have big stock buybacks underway .. and second, they're already in Warren Buffett's portfolio.
Altucher says buybacks are a good thing for a company's stock price, increasing earnings per share by reducing the 'share' portion of that ratio, and letting investors know the company feels good about its future prospects.
Among the stocks that fit both the Buffett and buyback categories:
- Wal-Mart. $15 billion stock buyback program and Mr. Buffett recently increased his position.
- Procter & Gamble. $30 billion in buybacks planned over 3 years.
- Moody's. $2 billion buyback to begin after current round completed.
All together, Stockpickr has a list of 10 Buffett buyback stocks.
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