PTKH
2021-12-13
Ok
Buybacks Hit Record After Pulling Back in 2020<blockquote>回购在2020年撤回后创下历史新高</blockquote>
免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。
分享至
微信
复制链接
精彩评论
我们需要你的真知灼见来填补这片空白
打开APP，发表看法
APP内打开
发表看法
1
2
{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":604362814,"tweetId":"604362814","gmtCreate":1639351943358,"gmtModify":1639351943699,"author":{"id":3554853770778714,"idStr":"3554853770778714","authorId":3554853770778714,"authorIdStr":"3554853770778714","name":"PTKH","avatar":"https://static.tigerbbs.com/730b421e1cf14ed038cbcbbccd32253e","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":32,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Ok</p></body></html>","htmlText":"<html><head></head><body><p>Ok</p></body></html>","text":"Ok","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/604362814","repostId":1100832119,"repostType":4,"repost":{"id":"1100832119","kind":"news","pubTimestamp":1639351123,"share":"https://www.laohu8.com/m/news/1100832119?lang=zh_CN&edition=full","pubTime":"2021-12-13 07:18","market":"us","language":"en","title":"Buybacks Hit Record After Pulling Back in 2020<blockquote>回购在2020年撤回后创下历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100832119","media":"The Wall Street Journal","summary":"Trend expected to continue as S&P 500 companies top $234 billion in third-quarter repurchases\nHertz ","content":"<p>Trend expected to continue as S&P 500 companies top $234 billion in third-quarter repurchases</p><p><blockquote>标普500公司第三季度回购额突破2340亿美元，预计这一趋势将持续</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9ced9a4cf63d42d213b2637cf6e6251\" tg-width=\"1290\" tg-height=\"884\" width=\"100%\" height=\"auto\"><span>Hertz Global Holdings is among the companies planning to buy back shares, recently putting the amount at as much as $2 billion of its stock.</span></p><p><blockquote><p class=\"t-img-caption\"><span>赫兹全球控股公司是计划回购股票的公司之一，最近回购的股票金额高达20亿美元。</span></p></blockquote></p><p> Stock buybacks are back.</p><p><blockquote>股票回购又回来了。</blockquote></p><p> Companies in the S&P 500 repurchased $234.5 billion in shares during the third quarter, topping the previous record of $223 billion in the fourth quarter of 2018, according to preliminary data from S&P Dow Jones Indices. The wave of share repurchases has helped propel U.S. stock indexes to dozens of records in 2021. The S&P 500 is up 25% this year, notching 67 record closes.</p><p><blockquote>根据标准普尔道琼斯指数的初步数据，标普500公司在第三季度回购了2345亿美元的股票，超过了2018年第四季度2230亿美元的纪录。股票回购浪潮帮助推动美国股指在2021年创下数十项纪录。标普500今年上涨了25%，创下67次收盘纪录。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c544caa0c27a4b04b40efda9373b9345\" tg-width=\"445\" tg-height=\"564\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> More buybacks are coming. Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, said he projects that S&P 500 buybacks will reach $236 billion in the fourth quarter.</p><p><blockquote>更多回购即将到来。标普道琼斯指数高级指数分析师Howard Silverblatt表示，他预计标普500第四季度回购规模将达到2360亿美元。</blockquote></p><p> S&P 500 component Microsoft Corp. said in September that its board had approved a plan to repurchase up to $60 billion of its stock. Car-rental company Hertz Global Holdings Inc. recently said it would buy back as much as $2 billion of its stock, while tech company Dell Technologies Inc. is planning a $5 billion share-repurchase program.</p><p><blockquote>标普500旗下微软公司9月份表示，其董事会已批准一项回购最多600亿美元股票的计划。汽车租赁公司赫兹全球控股公司(Hertz Global Holdings Inc.)最近表示，将回购高达20亿美元的股票，而科技公司戴尔科技公司(Dell Technologies Inc.)正在计划一项50亿美元的股票回购计划。</blockquote></p><p> Buybacks are just one of the forces behind the stock market’s rally. Asset prices have continued to benefit from the monetary and fiscal support that policy makers put in place to help the economy get through the pandemic. And analysts have consistently underestimated corporate earnings, which are expected to grow 45% in 2021 for companies in the S&P 500.</p><p><blockquote>回购只是股市上涨背后的力量之一。资产价格继续受益于政策制定者为帮助经济度过疫情而提供的货币和财政支持。分析师一直低估了企业盈利，预计2021年标普500公司的盈利将增长45%。</blockquote></p><p> Investors this week will scrutinize signals out of the Federal Reserve’s two-day policy meeting, where officials may accelerate the process of winding down a bond-buying stimulus program. Central-bank officials could also shed more light on their expectations for interest-rate increases next year.</p><p><blockquote>投资者本周将密切关注美联储为期两天的政策会议发出的信号，官员们可能会加快逐步结束债券购买刺激计划的进程。央行官员还可以更多地阐明他们对明年加息的预期。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f34637f9941a7eae6e8d124fd2afaf20\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>Microsoft has approved the repurchase of up to $60 billion of its stock. Its HoloLens headset.</span></p><p><blockquote><p class=\"t-img-caption\"><span>微软已批准回购最多600亿美元的股票。它的HoloLens耳机。</span></p></blockquote></p><p> S&P 500 buybacks plunged from nearly $199 billion in the first quarter of 2020 to just under $89 billion in the second, as companies reeling from the onset of the pandemic moved to conserve cash. Share repurchases increased in each following quarter, approaching $199 billion again in the second quarter of 2021.</p><p><blockquote>标普500的回购额从2020年第一季度的近1990亿美元骤降至第二季度的略低于890亿美元，因为受疫情爆发影响的公司纷纷采取行动节省现金。接下来的每个季度，股票回购都在增加，2021年第二季度再次接近1990亿美元。</blockquote></p><p> Repurchases can support stocks by reducing a company’s share count, boosting its per-share profits. And they can boost investor sentiment by suggesting executives are optimistic about their companies’ prospects and confident in their financial position.</p><p><blockquote>回购可以通过减少公司的股票数量来支持股票，从而提高每股利润。他们还可以通过暗示高管对公司前景持乐观态度并对其财务状况充满信心来提振投资者情绪。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1809eabe3f663824cd5a124952bc9dd4\" tg-width=\"438\" tg-height=\"567\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> “It’s always comforting to have a management team come in and tell you how undervalued they think their shares are,” said Anne Wickland, a portfolio manager at Easterly Investment Partners. “It’s a vote of confidence in the longer-term outlook.”</p><p><blockquote>Easterly Investment Partners的投资组合经理安妮·威克兰(Anne Wickland)表示：“管理团队介入并告诉你他们认为自己的股票被低估程度总是令人欣慰的。”“这是对长期前景的信任票。”</blockquote></p><p> Her team bought shares of Lockheed Martin Corp. in the summer, in part because of the defense company’s share-buyback program and dividend yield. Lockheed shares fell 12% on Oct. 26 after the company reported lower-than-expected quarterly sales and revised its full-year sales forecast lower. Ms. Wickland said she believes the shares are undervalued and continues to like them.</p><p><blockquote>她的团队在夏天购买了洛克希德·马丁公司的股票，部分原因是该国防公司的股票回购计划和股息收益率。10月26日，洛克希德公司股价下跌12%，此前该公司公布的季度销售额低于预期，并下调了全年销售预期。威克兰女士表示，她认为这些股票被低估，并继续看好它们。</blockquote></p><p> Stock buybacks have come under fire from politicians who say companies should use cash to invest in their businesses instead of supporting their share prices. The version of the $2 trillion education, healthcare and climate spending package that passed the House in November would create a 1% tax on the net value of a company’s stock buybacks.</p><p><blockquote>股票回购受到了政界人士的批评，他们表示公司应该使用现金投资于业务，而不是支撑股价。众议院11月通过的2万亿美元教育、医疗保健和气候支出计划将对公司股票回购的净值征收1%的税。</blockquote></p><p> The Senate hasn’t voted yet, but the buyback tax has so far generated less corporate opposition than the bill’s other tax increases. Strategists at BofA Global Research project that the proposed tax would result in a 0.3% reduction to S&P 500 per-share earnings, assuming that companies didn’t change the amount of stock they repurchase.</p><p><blockquote>参议院尚未投票，但迄今为止，与该法案的其他增税相比，回购税引起的企业反对较少。美国银行全球研究策略师预计，假设公司不改变回购股票的数量，拟议的税收将导致标普500每股收益减少0.3%。</blockquote></p><p> Several investors said they don’t believe the tax would have much of an effect on companies’ behavior if it became law. “The 1% tax on buybacks is so low that I don’t think it will impact anything,” said Olivier Sarfati, head of equities at wealth-management firm GenTrust.</p><p><blockquote>一些投资者表示，他们认为如果该税成为法律，不会对公司的行为产生太大影响。财富管理公司GenTrust股票主管Olivier Sarfati表示：“1%的回购税非常低，我认为不会产生任何影响。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buybacks Hit Record After Pulling Back in 2020<blockquote>回购在2020年撤回后创下历史新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuybacks Hit Record After Pulling Back in 2020<blockquote>回购在2020年撤回后创下历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-12-13 07:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Trend expected to continue as S&P 500 companies top $234 billion in third-quarter repurchases</p><p><blockquote>标普500公司第三季度回购额突破2340亿美元，预计这一趋势将持续</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9ced9a4cf63d42d213b2637cf6e6251\" tg-width=\"1290\" tg-height=\"884\" width=\"100%\" height=\"auto\"><span>Hertz Global Holdings is among the companies planning to buy back shares, recently putting the amount at as much as $2 billion of its stock.</span></p><p><blockquote><p class=\"t-img-caption\"><span>赫兹全球控股公司是计划回购股票的公司之一，最近回购的股票金额高达20亿美元。</span></p></blockquote></p><p> Stock buybacks are back.</p><p><blockquote>股票回购又回来了。</blockquote></p><p> Companies in the S&P 500 repurchased $234.5 billion in shares during the third quarter, topping the previous record of $223 billion in the fourth quarter of 2018, according to preliminary data from S&P Dow Jones Indices. The wave of share repurchases has helped propel U.S. stock indexes to dozens of records in 2021. The S&P 500 is up 25% this year, notching 67 record closes.</p><p><blockquote>根据标准普尔道琼斯指数的初步数据，标普500公司在第三季度回购了2345亿美元的股票，超过了2018年第四季度2230亿美元的纪录。股票回购浪潮帮助推动美国股指在2021年创下数十项纪录。标普500今年上涨了25%，创下67次收盘纪录。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c544caa0c27a4b04b40efda9373b9345\" tg-width=\"445\" tg-height=\"564\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> More buybacks are coming. Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, said he projects that S&P 500 buybacks will reach $236 billion in the fourth quarter.</p><p><blockquote>更多回购即将到来。标普道琼斯指数高级指数分析师Howard Silverblatt表示，他预计标普500第四季度回购规模将达到2360亿美元。</blockquote></p><p> S&P 500 component Microsoft Corp. said in September that its board had approved a plan to repurchase up to $60 billion of its stock. Car-rental company Hertz Global Holdings Inc. recently said it would buy back as much as $2 billion of its stock, while tech company Dell Technologies Inc. is planning a $5 billion share-repurchase program.</p><p><blockquote>标普500旗下微软公司9月份表示，其董事会已批准一项回购最多600亿美元股票的计划。汽车租赁公司赫兹全球控股公司(Hertz Global Holdings Inc.)最近表示，将回购高达20亿美元的股票，而科技公司戴尔科技公司(Dell Technologies Inc.)正在计划一项50亿美元的股票回购计划。</blockquote></p><p> Buybacks are just one of the forces behind the stock market’s rally. Asset prices have continued to benefit from the monetary and fiscal support that policy makers put in place to help the economy get through the pandemic. And analysts have consistently underestimated corporate earnings, which are expected to grow 45% in 2021 for companies in the S&P 500.</p><p><blockquote>回购只是股市上涨背后的力量之一。资产价格继续受益于政策制定者为帮助经济度过疫情而提供的货币和财政支持。分析师一直低估了企业盈利，预计2021年标普500公司的盈利将增长45%。</blockquote></p><p> Investors this week will scrutinize signals out of the Federal Reserve’s two-day policy meeting, where officials may accelerate the process of winding down a bond-buying stimulus program. Central-bank officials could also shed more light on their expectations for interest-rate increases next year.</p><p><blockquote>投资者本周将密切关注美联储为期两天的政策会议发出的信号，官员们可能会加快逐步结束债券购买刺激计划的进程。央行官员还可以更多地阐明他们对明年加息的预期。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f34637f9941a7eae6e8d124fd2afaf20\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>Microsoft has approved the repurchase of up to $60 billion of its stock. Its HoloLens headset.</span></p><p><blockquote><p class=\"t-img-caption\"><span>微软已批准回购最多600亿美元的股票。它的HoloLens耳机。</span></p></blockquote></p><p> S&P 500 buybacks plunged from nearly $199 billion in the first quarter of 2020 to just under $89 billion in the second, as companies reeling from the onset of the pandemic moved to conserve cash. Share repurchases increased in each following quarter, approaching $199 billion again in the second quarter of 2021.</p><p><blockquote>标普500的回购额从2020年第一季度的近1990亿美元骤降至第二季度的略低于890亿美元，因为受疫情爆发影响的公司纷纷采取行动节省现金。接下来的每个季度，股票回购都在增加，2021年第二季度再次接近1990亿美元。</blockquote></p><p> Repurchases can support stocks by reducing a company’s share count, boosting its per-share profits. And they can boost investor sentiment by suggesting executives are optimistic about their companies’ prospects and confident in their financial position.</p><p><blockquote>回购可以通过减少公司的股票数量来支持股票，从而提高每股利润。他们还可以通过暗示高管对公司前景持乐观态度并对其财务状况充满信心来提振投资者情绪。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1809eabe3f663824cd5a124952bc9dd4\" tg-width=\"438\" tg-height=\"567\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> “It’s always comforting to have a management team come in and tell you how undervalued they think their shares are,” said Anne Wickland, a portfolio manager at Easterly Investment Partners. “It’s a vote of confidence in the longer-term outlook.”</p><p><blockquote>Easterly Investment Partners的投资组合经理安妮·威克兰(Anne Wickland)表示：“管理团队介入并告诉你他们认为自己的股票被低估程度总是令人欣慰的。”“这是对长期前景的信任票。”</blockquote></p><p> Her team bought shares of Lockheed Martin Corp. in the summer, in part because of the defense company’s share-buyback program and dividend yield. Lockheed shares fell 12% on Oct. 26 after the company reported lower-than-expected quarterly sales and revised its full-year sales forecast lower. Ms. Wickland said she believes the shares are undervalued and continues to like them.</p><p><blockquote>她的团队在夏天购买了洛克希德·马丁公司的股票，部分原因是该国防公司的股票回购计划和股息收益率。10月26日，洛克希德公司股价下跌12%，此前该公司公布的季度销售额低于预期，并下调了全年销售预期。威克兰女士表示，她认为这些股票被低估，并继续看好它们。</blockquote></p><p> Stock buybacks have come under fire from politicians who say companies should use cash to invest in their businesses instead of supporting their share prices. The version of the $2 trillion education, healthcare and climate spending package that passed the House in November would create a 1% tax on the net value of a company’s stock buybacks.</p><p><blockquote>股票回购受到了政界人士的批评，他们表示公司应该使用现金投资于业务，而不是支撑股价。众议院11月通过的2万亿美元教育、医疗保健和气候支出计划将对公司股票回购的净值征收1%的税。</blockquote></p><p> The Senate hasn’t voted yet, but the buyback tax has so far generated less corporate opposition than the bill’s other tax increases. Strategists at BofA Global Research project that the proposed tax would result in a 0.3% reduction to S&P 500 per-share earnings, assuming that companies didn’t change the amount of stock they repurchase.</p><p><blockquote>参议院尚未投票，但迄今为止，与该法案的其他增税相比，回购税引起的企业反对较少。美国银行全球研究策略师预计，假设公司不改变回购股票的数量，拟议的税收将导致标普500每股收益减少0.3%。</blockquote></p><p> Several investors said they don’t believe the tax would have much of an effect on companies’ behavior if it became law. “The 1% tax on buybacks is so low that I don’t think it will impact anything,” said Olivier Sarfati, head of equities at wealth-management firm GenTrust.</p><p><blockquote>一些投资者表示，他们认为如果该税成为法律，不会对公司的行为产生太大影响。财富管理公司GenTrust股票主管Olivier Sarfati表示：“1%的回购税非常低，我认为不会产生任何影响。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/buybacks-hit-record-after-pulling-back-in-2020-11639263140?mod=hp_lead_pos1\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/buybacks-hit-record-after-pulling-back-in-2020-11639263140?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100832119","content_text":"Trend expected to continue as S&P 500 companies top $234 billion in third-quarter repurchases\nHertz Global Holdings is among the companies planning to buy back shares, recently putting the amount at as much as $2 billion of its stock.\nStock buybacks are back.\nCompanies in the S&P 500 repurchased $234.5 billion in shares during the third quarter, topping the previous record of $223 billion in the fourth quarter of 2018, according to preliminary data from S&P Dow Jones Indices. The wave of share repurchases has helped propel U.S. stock indexes to dozens of records in 2021. The S&P 500 is up 25% this year, notching 67 record closes.\n\nMore buybacks are coming. Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, said he projects that S&P 500 buybacks will reach $236 billion in the fourth quarter.\nS&P 500 component Microsoft Corp. said in September that its board had approved a plan to repurchase up to $60 billion of its stock. Car-rental company Hertz Global Holdings Inc. recently said it would buy back as much as $2 billion of its stock, while tech company Dell Technologies Inc. is planning a $5 billion share-repurchase program.\nBuybacks are just one of the forces behind the stock market’s rally. Asset prices have continued to benefit from the monetary and fiscal support that policy makers put in place to help the economy get through the pandemic. And analysts have consistently underestimated corporate earnings, which are expected to grow 45% in 2021 for companies in the S&P 500.\nInvestors this week will scrutinize signals out of the Federal Reserve’s two-day policy meeting, where officials may accelerate the process of winding down a bond-buying stimulus program. Central-bank officials could also shed more light on their expectations for interest-rate increases next year.\nMicrosoft has approved the repurchase of up to $60 billion of its stock. Its HoloLens headset.\nS&P 500 buybacks plunged from nearly $199 billion in the first quarter of 2020 to just under $89 billion in the second, as companies reeling from the onset of the pandemic moved to conserve cash. Share repurchases increased in each following quarter, approaching $199 billion again in the second quarter of 2021.\nRepurchases can support stocks by reducing a company’s share count, boosting its per-share profits. And they can boost investor sentiment by suggesting executives are optimistic about their companies’ prospects and confident in their financial position.\n\n“It’s always comforting to have a management team come in and tell you how undervalued they think their shares are,” said Anne Wickland, a portfolio manager at Easterly Investment Partners. “It’s a vote of confidence in the longer-term outlook.”\nHer team bought shares of Lockheed Martin Corp. in the summer, in part because of the defense company’s share-buyback program and dividend yield. Lockheed shares fell 12% on Oct. 26 after the company reported lower-than-expected quarterly sales and revised its full-year sales forecast lower. Ms. Wickland said she believes the shares are undervalued and continues to like them.\nStock buybacks have come under fire from politicians who say companies should use cash to invest in their businesses instead of supporting their share prices. The version of the $2 trillion education, healthcare and climate spending package that passed the House in November would create a 1% tax on the net value of a company’s stock buybacks.\nThe Senate hasn’t voted yet, but the buyback tax has so far generated less corporate opposition than the bill’s other tax increases. Strategists at BofA Global Research project that the proposed tax would result in a 0.3% reduction to S&P 500 per-share earnings, assuming that companies didn’t change the amount of stock they repurchase.\nSeveral investors said they don’t believe the tax would have much of an effect on companies’ behavior if it became law. “The 1% tax on buybacks is so low that I don’t think it will impact anything,” said Olivier Sarfati, head of equities at wealth-management firm GenTrust.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3150,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/604362814"}
精彩评论