From January to June of last year, Apple lavished $ 11 billion
on buybacks at $ 127 on average, 34 % over to its current price of $ 95.
Not exact matches
Jim Cramer highlights large share repurchase programs
at Apple, Boeing and others in a market that's grown sour
on buybacks.
Wells Fargo
at least partially blames it
on rules that prevent listed companies from conducting
buybacks in the last 30 minutes of trading — and keeps even the most liquid firms from doing it during the final 10 minutes before the close.
Jim Cramer highlights share repurchase programs
at Apple, Boeing and others in a market that's grown sour
on buybacks.
On the basic level, as Jonathan Glionna
at Barclays noted recently, if it becomes harder to borrow (which appears to be happening), the spigot that allows the face - saving
buybacks will be shut off.
As a student
at Winona State University, he organized textbook
buyback events
on campus twice a year.
«
On the capital front, we're also in the middle of a (stock)
buyback program that's going
at an accelerated pace.
With stocks in general still trading so high, investors are best off ignoring the short - term hype around
buyback announcements and instead taking a closer look
at companies
on repurchasing binges to see if their share prices have more room to run.
But annualized spending
on buybacks has dropped by
at least 15 % from its high point last year, according to Silverblatt.
Companies in the S&P 500 are
on track to give investors more than $ 1 trillion in stock
buybacks and dividend increases this year, according to Howard Silverblatt, a senior analyst
at S&P Dow...
What I hope to have happen, with Senator McCain's leadership, is a bipartisan
buyback of what's left
on sequestration, using a Simpson - Bowles formula, where Republicans will generate some revenue by closing deductions in the tax code for the few
at the expense of the many.
Steve Pakela, managing partner
at Pay Governance LLC in Pittsburgh, Pennsylvania, which advises more than 40 S&P 500 companies
on executive pay, said some directors «believe you shouldn't strip out the effect» because share
buybacks may be the best use of capital.
«There's been an over-focus
on buybacks and raising EPS to hit share option targets, and we know that those are concentrated in the hands of the few, and that the few is in the top 1 percent,» said James Montier, a member of the asset allocation team
at global investment firm GMO in London, which manages more than $ 100 billion in assets.
The story does not end with EV subsidies either as Tesla has provided very generous residual
buyback programs in key global markets like Hong Kong, which has very generous government incentives
at the front end (fully detailed in the legacy post below) putting a Tesla Model S pricing nearly
on top of a gas powered Honda Civic and well below a Mercedes entry model.
But this year is
on track to be even bigger: Birinyi has tracked $ 201 billion in
buyback announcements so far this year, the «record highest»
at this point in time compared to other years, Chris Costelloe an equity trader there, said in an email.
Even as the shares dipped down below the 1.2 times book value threshold during both January and February of this year, if you base it
on a
buyback price calculated
on Berkshire's book value per share
at the end of 2015.
As he told me over dinner and a five - hour interview
at his apartment
on Oct. 29th — the same dining table where he'd sat with Cook in late September and first proposed a
buyback plan — the precatory statement to Apple isn't about trying to restructure a weak firm.
While some defend the
buyback practice as a method of returning cash to shareholders, others, including my colleague Larry Fink, have argued that some companies today are focusing
on maximizing short - term shareholder value
at the expense of investing in the future.
I agree that
buybacks at a high valuation are likely foolish, but increasing the attractiveness of the stock to those focused
on the immediate payback would seem to make acquiring more shares
at a good price more difficult.
After opening -3.5
at Bookmaker.eu, bettors pushed the number up to -5.5 before
buyback started hitting Cincinnati
on Wednesday night.
White hot: Alvaro Negredo plays against DC United
on Real Madrid's US tour Real sold the player to Almeria last summer but brought him back
on a similar
buyback option for # 4.25 m purely with objective of selling him
on at a higher price following an impressive season that saw him score 19 in 35 appearances.
If you follow the green portion of the graph, you can see a huge dip when there was
buyback on UC Riverside
at +5.5, +5 and +4.5.
At -2.5 and -3, they preferred OKC, but now that the line has increased to -3.5, we've seen
buyback on the Knicks.
This morning, the line had moved all the way to -16
at Bookmaker, but there has since been slight
buyback on Maryland.
A few sportsbooks (not including CRIS or Pinnacle) did move to Kansas -5.5 earlier in the week, but there was immediate
buyback on Purdue
at that number.
Check to see if there is any
buyback on Seattle by looking
at our free odds page and by following us
on Twitter @SportsInsights and @ActionNetworkHQ.
The line remained unchanged
at Alabama -16.5 for an entire week before there was finally
buyback on Washington.
As you can see from the line chart above, the spread moved from Alabama -21.5 to -22 within minutes of opening and continued to rise until reaching Alabama -24,
at which point there was
buyback on Florida.
However, after this line was also bet down to -4.5
at CRIS (another market - setting sportsbook), Denver
buyback hit the market, pushing the spread back up to its current number of -6
at CRIS and -5.5
at Pinnacle while also triggering a Smart Money Play Tuesday night
on the Broncos.
Buyback on NC State has helped the line settle
at -10 although a number of square sportsbooks are offering NC State between +10.5 and +11.5.
Or will we see some
buyback on the Bills
at +3 or, if the line even gets there, +3.5 / +4?
The increasingly - attacking Serie A appeals if they can find a suitor willing to take a loan without an option to buy (or, to include a
buyback clause), whilst a 46 - game Championship season — perhaps
at Hull City, who recently hired a close friend of Roman Abramovich in Leonid Slutskiy — could have the same galvanising effect as it did
on Tammy Abraham, Kasey Palmer and Izzy Brown last season.
We started to see some
buyback on Florida
at -4.5 and the line has since stabilized
at +4.
On October 13th the Observer ran a story titled, «NYPD Deputy Commissioner: Gun
Buybacks Don't Work for NYC» which quoted NYPD Deputy Commissioner for Collaborative Policing Susan Herman telling a crowd of antigun advocates
at an event
at Hunter College that such turn - in programs have «minimal impact.»
As the Volkswagen diesel scandal grinds
on relentlessly, with some heads rolling
at Volkswagen and new talk of car
buybacks, we shouldn't lose sight of the toughest long - term challenge for Volkswagen...
In his book What Works
on Wall Street, he looked
at the efficacy of using
buyback yield, the percentage of shares a company redeemed over the last year, to pick stocks.
The money lately lavished
on buybacks appears to have come
at the expense of capital spending, which presumably isn't quite so necessary in a slow - growth economy.
When shares were being issued above NAV, it generated a small boost in value for existing shareholder, likewise the
buybacks currently going
on at 10 % -20 % below NAV are a boost for long term holders.
The REIT sector may be of interest to you, they frequently issue shares
at above NAV through secondary offerings (2009 - 1st quarter 2013) and now they are all below NAV and you see
buybacks going
on (2013 - present).
AdvisorShares Wilshire
Buyback ETF (TTFS) began trading
on Oct. 5, 2011,
at $ 26.44.
For mature, going concerns, the after - tax operating income and free cash flow to the firm will be positive (
at least
on average) and that cash flow is used to service debt payments as well as to provide cash flows to equity in the form of dividends and stock
buybacks.
[Just look
at the amazing run
on Autozone (AZO: US)-- yes, they've had great execution, but much of its performance is down to aggressive / sustained stock
buybacks].
Of course, I have no idea what motivated TOT's actual share repurchase, but I don't need to — because I have my own Intrinsic Value for TOT, and / or other companies, I can quickly determine whether current or future share repurchases are
at a discount to this Value and therefore attractive — in the case of TOT, based
on current metrics, the more share
buybacks the merrier!
My order of preference is (1) tender offer
at substantial premium (2)
on - market
buybacks (3) special dividend.
Well, you could look
at the change in tangible net worth due to common shareholders, and add back dividends, including the value of spinoffs, and net money spent
on buybacks.
Usually
buybacks are done because management is flush with cash, and that unfortunately happens when a company's stock is already greatly «appreciated»
on Wall Street, i.e. trading
at a significant premium to book.
At the current share price, a share
buyback programme isn't intrinsically attractive, so a special dividend makes the most sense — but I wouldn't bet
on it!
I've done this
on a per share basis as the ongoing
buyback program (almost 20 % of shares outstanding
at the end of 2010 have now been repurchased) would otherwise have somewhat distorted the analysis.
Actually, this probably understates Upside Potential, which would be enhanced by i) any further share
buybacks (
at a discount to NAV), ii) any NAV increases, based
on income / capital gains (I won't speculate
on this, but note the v positive income tailwind highlighted previously), and iii) a value realization «event «would likely offer a share price premium, or even NAV.
The company has made $ 14m worth of «bolt -
on» acquisitions since the end of H1, and also says that further share
buybacks (it bought back 22m shares last November, or about 6.25 % of the shares in issue
at that time) remain an option.