matisse capital management

Marvell (MRVL) Announces New Share Buyback Plan

Up to $500 million in shares. This is equal to about 5% of the total stock outstanding, or 31.7 million shares at the current price of $15.75.  Marvell is a global electronics, circuit and chip manufacturer headquartered in Bermuda.  MRVL does not pay a dividend and the current P/E ratio is 15.7.  Click, left, to enlarge one-year chart.

Lorillard (LO) Announces Major Buyback Plan

Up to $1 billion in shares. This is equal to about 9% of the total stock outstanding, or 13.4 million shares at the current price of $74.74.  Lorillard (ticker: LO) manufactures and sells cigarettes in the US under the brand names Newport, Kent and True, and others.  LO's yield is 5.4% and the P/E ratio is 12.1.  Click, left, to enlarge chart.

Dr. Pepper Snapple (DPS) Announces Share Buback Plan

Up to $1 billion worth. This amount is in addition to the $450 million remaining from a previous $1 billion buyback, announced in February 2010.  This is equal to about 10.4% of the total stock outstanding, or 25.5 million shares at the current price of $39.25.  DPS manufactures and distributes non-alcoholic beverages around the world.  Its brands include Dr. Pepper, Sunkist, 7 Up, Canada Dry, Snapple and RC Cola.  The current yield is 2.6% and the P/E ratio is 19.6.   Click one-year chart, left, to enlarge.

L-3 Communications (LLL) Announces Share Buyback Plan

Up to $1 billion worth by the end of 2012. This is equal to about 11.7% of the total stock outstanding, or 13.5 million shares at the current price of $73.85.  LLL provides aircraft modernization services and manufactures communications systems and surveillance equipment worldwide.  The current yield is 2.2% and the P/E ratio 9.5. 

CVS Caremark (CVS) Announces Share Buyback Plan

Up to $2 billion worth. This is equal to about 4.6% of the total stock outstanding, or 63 million shares at the current price of $31.87.  CVS has prescriptions management operations and a chain of retail pharmacies in 41 states and Washington, DC. Since January, CVS shares are down 2.3%. The yield is 1.1% and CVS currently trades at a P/E ratio of 12.2.  Click the one-year chart, above left, to enlarge.

Chubb (CB) Announces Extended Share Buyback Plan

Another 14 million shares. This is equal to about 4.3 percent of the total stock outstanding, and worth $721.8 million at the current share price of $51.56.  The company still has another 3.8 million shares to repurchase under a 25 million share buyback announced six months ago. Chubb is a property and casualty insurance company with operations around the world.  CB's stock is up 4.2 percent since January. The yield is 2.9% and shares currently trade at a P/E ratio of 7.8.  Click the one-year chart to enlarge.

Forest Laboratories (FRX) Announces Share Buyback Plan

Up to 50 million shares. The plan has no expiration date. This amount is equal to about 16.5% of the outstanding shares, which currently trade at $27.25.  Forest develops and sells branded and generic drugs globally.  It is currently seeking FDA approval for Daxas, a daily treatment for chronic pulmonary disease, to add to its staples Lexapro and Namenda.  The company does not pay a dividend and shares currently trade at a P/E ratio of 12.1.  Click one-year chart, above left, to enlarge.

Danaher (DHR) Announces Stock Buyback and Share Split

Up to 10 million shares; a 2:1 split. The split will take place June 11 for shareholders of record May 25. The buyback plan has no expiration date and the amount is equal to about 3.0% of the outstanding shares at the current price of $87.38.  The amount will be adjusted to 20 million shares after the split.  Danaher designs, develops and markets industrial and medical equipment globally.  The dividend yield is 0.2% and shares currently trade at a P/E ratio of 24.1.  Click one-year chart, left, to enlarge.

Gilead Sciences (GILD) Announces Share Buyback Plan

Up to $5 billion worth. The plan will continue through May 2013. This amount is equal to about 125.9 million shares at the current share price of $39.79, or 14.0% of the stock outstanding.  This is the second buyback plan announced this year.  The first was for $1 billion; announced in January, it was completed early last month, and 24.1 million shares were acquired.  Gilead Sciences discovers, develops and markets pharaceuticals products globally.  Gilead does not pay a dividend and shares currently trade at a P/E ratio of 12.7.  Click one-year chart, left, to enlarge.

Kellogg (K) Announces Share Buyback Plan

$2.5 billion over three years. This amount is equal to about 45.5 million shares at the current share price of $54.95, or 12.0% of the stock outstanding.  Kellogg markets and manufactures convenience foods and ready-to-eat cereals globally.  The yield is 2.7% and shares trade at a P/E ratio of 17.4.  Click one-year chart to enlarge.