Table: Buy What Companies Are Buying
Many companies have buyback programs, but not all are reducing the number of shares outstanding. Here are some companies that are retiring shares, according to Buybackletter.com, a newsletter and Web site.
STOCK (SYMBOL) SHARE REDUCTION*
ARCHSTONE COMMUNITIES TRUST (ASN) -12.8% BOEING (BA) -11.2 CATERPILLAR (CAT) -1.5 CRESCENT REAL ESTATE EQUITIES (CEI) -11.6 DANA CORP. (DCN) -2.9 DQE (DQE) -17.4 EASTMAN KODAK (EK) -5.9 GENERAL MOTORS (GM) -11.6 HIGHWOODS PROPERTIES (HIW) -11.0 NSTAR (NST) -8.8 REX STORES (RSC) -24.4 R.J. REYNOLDS TOBACCO (RJR) -4.2 TXU (TXU) -2.1 WINN-DIXIE STORES (WIN) -2.8
* Decline in shares outstanding over the 12 months through 8/31/01