❗️🇺🇸#buyback #stocks #us #markets
*buyback programs have been the main driver of SP500 growth since 2011 - details
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early: Biden plans to propose quadrupling the 1% tax on stock buybacks

S&P Dow Jones: companies would likely start to shift some buyback spending to dividend payments if the tax on repurchases reaches 2.5%

🇺🇸#buyback #us #stocks #markets
Goldman: S&P 500 buybacks will fall 10% (y/y) to $869B in 2023

*buyback programs have been the main driver of SP500 growth since 2011 - details

🇺🇸#buyback #stocks #us #markets
*buyback programs have been the main driver of SP500 growth since 2011 - details

🇺🇸#buyback #stocks #us #macro #markets

⚠️🇺🇸#chip #tax #us #ChipsAct
the Biden administration will require companies winning funds from its $52B US semiconductor manufacturing and research program to share excess profits

#buyback companies winning funding are also prohibited from using chips funds for dividends or stock buybacks

#china US Chips Act fund recipients must agree not to expand capacity in China for 10 years

💥#INTC

✴️ #GBTC #crypto #watchlist
Ned Davis Research: GBTC potentially doubling by midyear.

GBTC’s share price trades at a 47% discount to its underlying NEV

Grayscale (the fund’s corporate sponsor) wants to convert GBTC into an ETF, it’s the best way to close the discount #etf

SEC rejected Grayscale’s bid to convert GBTC into an ETF, prompting Grayscale to sue the agency. The trial is set to begin on March 7 #court

Grayscale plans to return up to 20% of GBTC‘s capital to shareholders if its legal strategy fails #buyback

Grayscale doesn’t have a redemption program in place = investors are screwed unless the SEC grants its proposal to convert to a Bitcoin spot ETF #redemption
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early: Morgan keeps buying GBTC

💥🇺🇸#buyback #stocks #us #markets
US stock buyback in 2023 = Record

JPMorgan says that more than 2/3 of the US buyback announcements are spread across only 5 companies:

#CVX Chevron ($75B)
#META Meta ($40B)
#GS Goldman ($30B)
#CRM Salesforce ($20B)
#BKNG Booking ($20B)
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*buyback programs have been the main driver of SP500 growth since 2011 - details

🇺🇸#budget #us
The White House has released a draft budget for fiscal year 2024. It projects total outlays of $6.883T and total revenues of $5.036T

Biden budget would cut deficit by $3T over next decade

In the budget, US debt to rise from 97% of GDP in 2022 to 109.8% in 2033 #debt

The budget also boosts military spending to more than $835B #military

⚠️hiking the corporate tax rate to 28%, up from 21% #tax #business

⚠️abolition of tax privileges for energy companies #energy

⚠️raise the minimum tax on the rich to 25%

⚠️stock buybacks tax to rise from 1% to 4% #buyback

⚠️the budget will propose tax changes on crypto to eliminate wash trading #crypto

🇺🇸#MPC #earnings #watchlist
Marathon Petroleum
- GAAP EPS of $6.09 beats by $0.29,
- Revenue of $35.08B misses by $90M,
- Price/Earnings ratio (3Y):
- Price/FreeCashFlow ratio (3Y):
- Current ratio (1Q23):
- Working Capital/Debt (1Q23):
- Margin of Safety:

#buyback announces $5B buyback

💥🇺🇸#buyback #stocks #us #markets
BofA: сorporate buybacks have started gaining momentum
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buyback programs have been the primary driver of S&P 500 growth since 2011 - details

💥🇺🇸#buyback #stocks #us
buybacks from S&P 500 companies started to increase in Q1 2023 — research
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since 2011, buyback programs have been the main catalyst for S&P 500 growth - details

⚠️🇺🇸#buyback #stocks #us
the volume of stock buybacks by S&P 500 companies continues to decrease
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since 2011, buyback programs have been the main catalyst for S&P 500 growth - details

⚠️🇺🇸#stocks #us #buyback
Morgan: pace of buybacks has slowed this year
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since 2011, buyback programs have been the main catalyst for S&P 500 growth - details

⚠️🌎#buyback #stocks #world
FactSet: the number of announced corporate buybacks continues to decline
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since 2011, buyback programs have been the main catalyst for S&P 500 growth - details

🇺🇸#cash #buyback #stocks #us
BofA: total cash on US corporate balance sheets remains at a record high.
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сash often goes to buybacks, which have been the primary driver of the S&P 500's growth since 2011

❗️🇺🇸#buyback #stocks #us
BofA's corporate clients have increased their buyback volumes to record levels
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since 2011, buyback programs have been the main catalyst for S&P 500 growth - details

💥🇺🇸#buyback #stocks #us
buybacks in US stocks are gaining momentum. Many large companies announced new buyback plans on conference calls.
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сorporations have ample cash to spend on buybacks (chart)

since 2011, buyback programs have been the primary catalyst for S&P 500 growth (chart)

💥🇺🇸#buyback #stocks #us #forecast
BofA: company buybacks in the S&P 500 are at historically high levels.

Goldman: increased corporate buybacks are expected to bolster US equities.
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сorporations have ample cash to spend on buybacks (chart)

since 2011, buyback programs have been the primary catalyst for S&P 500 growth (chart)