Word: buybacks
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...yeah, the Maytag I didn't buy on Wednesday? At the closing bell the company announced a massive stock buyback. I bought it the next day at $1 a share more than I would have paid if I'd listened to my wife...
...error occurred while processing this directive]Fortune Investor Data That possibility hasn't yet shaken investors' faith in their darlings, though: Internet stocks are leading the buyback, with the four belwethers, Yahoo, Lycos, Amazon.com, and Excite, up a combined 13 points by mid-morning. But heed Kadlec's tip du jour: Internet stocks will be the next to fall...
...chairman. "I would like to focus more of my time on broad strategic issues concerning the industry and Intel," he said in a statement. Wall Street was unfazed by the news as Intel stock rose $1 in midday trading, and the company said it would increase its stock buyback plan by 100 million shares to 129.8 million...
...know it was the bottom? Conventional wisdom has it that IBM's massive buyback triggered the optimism. But those of us in the trenches know that it was a Merrill Lynch monster buy order of Pepsi, entered at 9:31 a.m. by the beverage company itself, that convinced many scared traders that they had better start buying. The cool calm of Pepsi opening flat--most other stocks indicated a $3 or $4 dip--changed everything. Within seconds after the opening bell, Pepsi let it be known that it would General-Jackson its own stock, standing there, Stonewall-like, right under...
...flip it at 89 by 2:30. Same with Chevron and Microsoft. By 2:45 it was an upside panic. In fact, Intel triggered a frantic wave of buying simply by not denying a rumor, reported on CNBC, that it was about to announce a massive buyback. In fact, it has one already, but why knock a specious but positive report? In the closing hour I locked in profits from the morning that normally take me three to four quarters to ring up. The rest of the week traders staggered in and out of stocks madly until Friday, when trading...