Companies Play It Safe amid Uncertain Economic Outlook
Earlier this year, Goldman Sachs said US stock buyback authorizations could top $1 trillion this year, which would be the highest absolute level of buybacks since 2007. Recently, Alcoa (AA), the largest US-based aluminum producer, announced a $200 million share buyback. Other metals and mining companies including Vale (VALE) and BHP Billiton (BHP) have also announced share buybacks this year.