Is the best defense a good buying offense? Lockheed Martin
No, the more typical buybacks have been coming from the likes of Nathan's Famous
Stuck data-storage bellwether EMC
"The purchase program announced today reflects our belief that EMC common stock is currently an attractive investment opportunity for EMC," said the company's Executive Chairman Mike Ruettgers.
When did he say this? Back on May 9, 2001, when the company announced a 50-million share buyback. The stock closed at $40.98 that day and has given back 90% of its value since last year's repurchase announcement.
So, tread cautiously with the flurry of buyback press releases you're seeing lately. While it might be a prudent move for public companies to show a little faith and try to lead by example, just make sure you know what you're following.