B&S: Share buybacks down

U.S. companies are spending less to buy back their own shares, Boenning & Scattergood research head James Still says.
Instead of the buybacks companies used to prop up share prices during the late stock market boom, companies are hoarding cash as a hedge against recession, and to fund bargain takeovers of recession-stricken competitors. See the report here.

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About Joseph N. DiStefano

Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com

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