America's biggest companies are still spending hundreds of billions of dollars devouring themselves.
Share buybacks executed by members of the S&P 500 rose 16% in the third quarter, according to data from FactSet out on Tuesday.
Information technology (specifically Apple, Microsoft, and Qualcomm), financial, and industrial firms leading the way. The number of companies buying back stock during the quarter totaled 383, up from 380 in the prior quarter.
Buying back shares raises the earnings per share. So simultaneously price goes up more and EPS looks better. Another reason to not base trades on a number unless your research is extensive and takes into account exceptions. Ignore accountants, dont trust lawyers and run when both departments work together.
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