The big American Robbery: Six companies that lost the most buying back their own shares.
The companies with the biggest paper losses:
IBM: - $9.8 billion
Qualcomm: -$7.4 billion
American Express: -$4.1 billion
Exxon Mobil: -$3.9 billion
Hess: -$2.9 billion
Chevron: -$2.8 billion
Source:
http://www.philly.com/philly/business/20160209_ap_c7031c1f9e5247ed906c14f95f9cb382.html
@FTceqrC-eby is right that buybacks are a scam but Wall Street loves them because they get a commission on those million of shares.
Anytime I see a company start a buyback when their stock price is at all time highs, I sell. There are some very small companies that Wall Street doesn't follow that will buy back stock when their stock is at all time lows... those are stocks I will look at as potential investments.
Buy low, sell high... why don't big companies understand this easy rule?
I would like a "Bonsue"!!! Where do I sign up? is it the same line as the Foodstamps or is it the Obamaphone line?
@FTceqrC-brm dont be stupid, the buy-backs are a scam and it's recognized on both sides of the political spectrum
Mr. Sanders, shouldn't you be heading down to South Carolina to make more promises about free tuition, medical pot, and Vermont cheddar?
These evil companies you speak of provides goods and services which people use, and provide retirement investment income through the value of the stock.