Buybacks are back: corporate America is on a spending spree

(Image: Getty)

Fri, 10 May 2024

By Charley GrantUS companies are feeling good about their prospects and spending like they mean it.The first-quarter earnings season is turning out better than many Wall Street forecasters had expected. At the same time, companies are stepping up repurchases of their own shares, which is giving a resurgent stock market an extra boost.S&P 500 companies that have reported first-quarter results as of Monday have disclosed buying back US$181.2 billion (NZ$300.3b) of their shares during the period, according to data compiled...

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