Fortune

Winners and Losers in a $1 Trillion Buyback Year

Corporate America may be overpaying its own shareholders.
Defense giant Northrop Grumman timed its buybacks well; most other companies didn’t.

AMERICAN BUSINESSES have been buying back their own stock at a wallet-scorching pace. In the five years through 2018, encouraged by solid profits and changes in the tax

You're reading a preview, sign up to read more.

More from Fortune

Fortune11 min read
Big-box Rebound: How Target Packaged A Turnaround
In 2017, the struggling megachain spooked Wall Street and earned mockery in the retail world by committing billions to revamping its stores. That Hail Mary pass connected for a touchdown: Today, more-inviting shopping floors and smoother e-commerce h
Fortune3 min read
Translating Success
IN HIS 41 YEARS ON EARTH SO FAR, Luis von Ahn has changed the world three times. People still blame him for the first. That invention, which had its public debut on Yahoo in 2000, had a mouthful of a name; the Guatemalan-born computer scientist call
Fortune1 min readTech
Capital Offense
YOU’D BE HARD-PRESSED to find a company more committed to using the so-called public cloud than Capital One. America’s seventh-biggest bank by revenue has spent years winding down its data centers—from eight in 2014 to zero planned by the end of 2020