Flush with huge amounts of cash, companies repurchased $274B more shares than they issued in the first nine months of the year, says Yardeni Research. The buybacks reflect the lack of confidence in the economy as companies forgo capex and hiring, while they are also distorting EPS trends. One question is how much the repurchases have contributed to the rise in stocks this year.
Flush with huge amounts of cash, companies repurchased $274B more shares than they issued in the...
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