$苹果(AAPL.US$ $微软(MSFT.US$ $谷歌-C(GOOG.US$
KEY BACKGROUND
Companies are now flush with cash to make stock repurchases – Pence indicated that S&P 500 companies held $1.9 trillion in cash at the end of 2020 – the highest level ever and up nearly $400 billion compared to 2019. For now, Pence said, companies making the majority of share repurchases are currently trading at a discount to the broader market – suggesting they are optimistic about higher share prices going forward. Graham also noted that big banks are facing Federal Reserve-mandated stress tests to determine if they can resume normal levels of share buybacks. But since these banks are “sitting on significant levels of excess capital,” that should allow them to easily navigate next month’s stress tests and eventually accelerate stock buyback programs, which, in turn, could lead investors to increase their exposure to banking stocks. Winston Chua, an analyst at EPFR Global, cited another reason companies repurchase shares. “Buybacks increase a company’s earnings per share without an actual increase in profits. This would in turn drop the [price-earnings] ratio, making the company look more attractive,” he told Forbes.
SURPRISING FACT
Some stock buybacks can actually be bad for a company, as they can reduce a company’s ability to weather a crisis. Pence cited the airlines as an example. Over the last decade, he said, the biggest U.S. airlines spent 96% of their free cash flow on buybacks, and as a result had to get U.S. government support to the tune of around $54 billion between The Coronavirus Aid, Relief, and Economic Security (CARES) Act, omnibus Covid relief deal, and the American Rescue Plan when Covid crimped demand for air travel.
WHAT TO WATCH FOR
Burns McKinney, managing director and portfolio manager at NFJ Investment Group in Dallas, told Forbes he expects buybacks to “ramp up” throughout this year. “Corporate cash balances remain high, and optimism is rising,” he said. “This may be particularly true of the banks, as restrictions on buybacks and dividends [expire].”
KEY BACKGROUND
Companies are now flush with cash to make stock repurchases – Pence indicated that S&P 500 companies held $1.9 trillion in cash at the end of 2020 – the highest level ever and up nearly $400 billion compared to 2019. For now, Pence said, companies making the majority of share repurchases are currently trading at a discount to the broader market – suggesting they are optimistic about higher share prices going forward. Graham also noted that big banks are facing Federal Reserve-mandated stress tests to determine if they can resume normal levels of share buybacks. But since these banks are “sitting on significant levels of excess capital,” that should allow them to easily navigate next month’s stress tests and eventually accelerate stock buyback programs, which, in turn, could lead investors to increase their exposure to banking stocks. Winston Chua, an analyst at EPFR Global, cited another reason companies repurchase shares. “Buybacks increase a company’s earnings per share without an actual increase in profits. This would in turn drop the [price-earnings] ratio, making the company look more attractive,” he told Forbes.
SURPRISING FACT
Some stock buybacks can actually be bad for a company, as they can reduce a company’s ability to weather a crisis. Pence cited the airlines as an example. Over the last decade, he said, the biggest U.S. airlines spent 96% of their free cash flow on buybacks, and as a result had to get U.S. government support to the tune of around $54 billion between The Coronavirus Aid, Relief, and Economic Security (CARES) Act, omnibus Covid relief deal, and the American Rescue Plan when Covid crimped demand for air travel.
WHAT TO WATCH FOR
Burns McKinney, managing director and portfolio manager at NFJ Investment Group in Dallas, told Forbes he expects buybacks to “ramp up” throughout this year. “Corporate cash balances remain high, and optimism is rising,” he said. “This may be particularly true of the banks, as restrictions on buybacks and dividends [expire].”
2
$美国超微公司(AMD.US$ Chipmaker AMD, rebounds from short downtrend
AMD stock rebounded from its 50-day moving average line in a show of strength on Monday. However, trading volume in AMD stock has been underwhelming lately. Volume on Monday was 23% below average. Aggressive investors could have used 106.98 as an entry point. That's just above last Thursday's high.
- AMD stock rebounded from its 50-day moving average line
- Aggressive investors could have used 106.98 as an entry point
- AMD is forming a double-bottom base with a 114.59 buy point
AMD stock rebounded from its 50-day moving average line in a show of strength on Monday. However, trading volume in AMD stock has been underwhelming lately. Volume on Monday was 23% below average. Aggressive investors could have used 106.98 as an entry point. That's just above last Thursday's high.
- AMD stock rebounded from its 50-day moving average line
- Aggressive investors could have used 106.98 as an entry point
- AMD is forming a double-bottom base with a 114.59 buy point
2
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$PayPal(PYPL.US$ Paypal的价格目前已经达到了两个强劲的支撑位,在接下来的几周/几个月里,Paypal的价格看起来是一个非常不错的选择。
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$恒生指数(800000.HK$ 恒生指数受阻于24700,目前没有上涨势头。在一次又一次的实践中,我们发现恒生指数有自己的独立趋势。没有必要跟着妈妈或爸爸,经常离家出走,只要有丝毫的压力,就会大大降低。
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$腾讯控股(00700.HK$ 购买香港股票的资金买入一天,卖出一天(而且经常被高价追入),然后迅速下跌并卖出。最近几个月,只出现了一系列波动。
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$腾讯控股(00700.HK$ 实际上,在过去的几天里没有发生任何重大变化。投资者今天回归,仍有一波市场走势,但具体情况仍取决于明天是否有连续性。
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市场和观察名单表现不佳,暂时没有动力同意买入股票。 $罗素2000成长股指数ETF-iShares(IWO.US$, $iShares罗素2000指数ETF(IWM.US$ 自二月以来,罪恶浪潮一直在前进。完全没有趋势。
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