BP PLC (NYSE: BP) is reportedly allocating the equivalent of almost $6 billion to its buyback plan due to cash on hand and due to weakness persisting since the Gulf of Mexico disaster in 2012. Its market cap is about $127 billion.
GameStop Corp. (NYSE: GME) managed to climb during a weak market last week as big video games are back. The video game retailer also went ahead and set a new $500 million share buyback plan.
Limited Brands Inc. (NYSE: LTD) beat earnings last week and it also set a $250 million share buyback plan. That is pretty small against a $13+ billion market cap.
Monster Beverage Corp. (NASDAQ: MNST) has seen shares hit hard over drink safety concerns. Last week’s $250 million share buyback plan compares to a market cap of more than $7.7 billion.
NetApp Inc. (NASDAQ: NTAP) beat earnings last week and announced that it would expand its share buyback plan by another $1.5 billion.
O’Reilly Automotive Inc. (NASDAQ: ORLY) boosted its share buyback plan by some $500 million last week. This compares to a market cap of $10.3 billion.
Oshkosh Corp. (NYSE: OSK) allocated $300 million that can be used to buy back its common stock over the next 12 to 18 months. Oshkosh has a market cap of about $2.5 billion.
Procter & Gamble (NYSE: PG) recently held its analyst day, and it announced that it would boost its share buybacks by 50% in 2013. That is now $6 billion based on the hike, and the company said it could increase that if its cash flow increases.
Starbucks Corp. (NASDAQ: SBUX) added another $1.2 billion to its share repurchase plan, or about 25 million shares. Starbucks has a market cap of $36.5 billion.
Xerox Corp. (NYSE: XRX) may have had its CEO meet with the Obama administration last week, but the company also increased its share buyback plan by $1 billion as well. Xerox has a market cap of $7.9 billion.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) just announced a new $1.5 billion securities repurchase program. This is not just for common shares, as the company included senior notes and other debt in the buyback. Its market cap is $16.7 billion.
Yum! Brands Inc. (NYSE: YUM) approved a new $1 billion share buyback, versus a market cap of about $32.5 billion.
JON C. OGG