Seven Companies Announce Buyback

When a company announces a buyback, it means that the company is going out and buying shares of its own company on the open market. This is generally very bullish for stocks, since it shows confidence by executives in their own companies, reduces the number of shares outstanding. With the reduction of shares in the market the demand of the stock normally goes up. This is also good news for the existing shareholders since the earnings and dividends will be split up among fewer shares.

The 7 companies that announced buyback are

  1. Bank of America BAC
  2. Cypress Semiconductor CY
  3. East West Bancorp EWBC
  4. eBay EBAY
  5. FreightCar America RAIL
  6. Rome Bancorp ROME
  7. Varian VARI