A Very Unwelcome Development
All of those buybacks. All of those takeovers. All of that buying power. But it doesn't mean a thing in the last hour of trading, as we saw in that brutal close Monday.
Among the many companies with just-announced share buybacks were 3M (MMM), United Tech (UTX) and IBM (IBM), and these were down huge Monday -- the biggest percentage contributors to the decline in the Dow. With all these buybacks, you wouldn't think we'd see this torrent of surprisingly large, unbridled selling, totally unmet by anything other than the most meager buying....528 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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