April Brings Poor Earnings, But Record Stock Buybacks (05/11/2015)
Despite nearly flat earnings growth in the first quarter, large corporations are still awash with cash and they continue to use it to buy back their shares.
Large corporations authorized the record $141 billion of buybacks during April, the highest amount announced in any month, according to Birinyi Associates, a money management and research firm.
In 2014, companies spend $679.5 billion for buybacks and if the trend continues, this year the S&P 500 SPX, +1.35% companies are on track to top that number.
With $398 billion of announcements, 2015 remains the strongest start ever, according to Birinyi Associates.
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These record buy backs failed to lift the stock market, but what they did is keep it up so bubble bulls are ecstatic and very hopeful for future gains and hungry for picks.
Some are even going on margin to gamble it up.
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