With earnings season mostly behind us, buyback announcements also declined with a total of 18 companies announcing stock buybacks this week compared to 38 companies in the prior week. The top buyback is a nano-cap company with a market cap below $50 million that also happens to be a net-net. A net-net is a company where its market cap is less than current assets minus total liabilities. Tonix Pharmaceuticals (TNXP) announced a ...

The season of buybacks continues this week with a total of 38 companies announcing stock buybacks and 10 of those companies announcing buybacks that exceeded 10% of their market cap. We also saw a couple of buyback announcements by insurance companies that exceeded $1 billion but they did not make our list below because the buybacks as a percentage of their market cap were not large. Progressive (PGR) announced a ...

We are seeing a sea of red in markets today with the Dow Jones down more than 800 points (2.56%) and the Nasdaq down more than 400 points (3.62%) as I write this. In a challenging market environment, consumer staples and consumer defensive names sometimes help investors ride out volatility while sectors like consumer discretionary tend to take a harder hit. That belief was challenged today with Target (TGT) losing ...

A combination of earnings season and a weak market supercharged stock buyback announcements with 32 companies announcing buybacks since our last article. I came across the following Tweet this morning and was reminded that when management teams allocate capital well including knowing when to repurchase stock and when to issue it, long-term investors benefit. Cumulus Media (CMLS), the radio stations operator with 406 owned or operated radio stations and a ...

Turnaround situations have a reputation for delivering spectacular returns, if and when the company can actually turn things around. Once a company has lost its way, it is very difficult to regain market share or become profitable even if new management is at the helm. We discussed this briefly in a Twitter thread after an insider purchase at General Electric (GE) by Larry Culp. Despite his excellent management of Danaher ...

Google’s parent Alphabet (GOOG) announced a massive $70 billion stock buyback after reporting Q1 2022 results yesterday. Unfortunately those results did not give the market a lot of confidence as they came in below consensus analyst estimates driven in part by a slowdown in ad revenue at YouTube and a $1.07 billion loss on investments (equity securities). This overshadowed a 23% increase in revenue to $68 billion and a 22% increase ...

PVH Corp (PVH), the apparel company that owns the brands Calvin Klein and Tommy Hilfiger along with three women’s undergarments brands, had a wonderful year last year with revenue of $9.15 billion and net income of $952 million. This was the best bottom line performance at the company in well over a decade. The stock unfortunately has not benefited from this performance, down more than 23% over the last year. ...

Welcome to edition 2 of Buyback Wednesdays, a new weekly series of articles we launched on Inside Arbitrage last week to track the top stock buyback announcements during the prior week. We have been tweeting about buybacks for several months and decided to start writing about them in a weekly article to provide more context. A home builder topped the list of buybacks this week with KB Home announcing the ...

Welcome to a new weekly series of articles we are launching today on Inside Arbitrage to track the top stock buyback announcements during the prior week. We have been tweeting about buybacks for several months as you can see below and decided to start writing about them in a weekly article to provide more context. We wrote the following in a premium blog post almost four years ago when we ...