April alone saw $209 billion worth of stock repurchases announced by companies, the second-highest month on record behind the $209 billion from June 2018, following the Trump administration’s tax overhaul.
“It’s going to be a big earnings season for buybacks,” said Winston Chua, an analyst at research firm EPFR, adding that buybacks have remained elevated in May and likely will stay that way for several weeks before tapering off. First-quarter earnings mostly have trounced optimistic estimates put forth by Wall Street, validating expectations that business would come roaring back once COVID-19 became a less disruptive force in people’s lives.
Berkshire’s share repurchases were $6.6 billion in the first quarter, down from $9 billion each in the third and fourth quarters of 2020.
Buybacks increasing signals an increased panic as CFOs try to fool boards and investors with ever impossible numbers. The sheets start to bend
horrible
Such a productive use of cash & convertibles.
Sure, let’s keep giving large corporations bailouts and tax cuts, only to see them buy back their own stock...
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still waiting for the trickle down. the people want the crumbs!!
this is terrible news
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