Share buybacks are important for the stock market because, all else being equal, they increase earnings and equity per share. With earnings per share and equity rising, the stock price has little else to do but follow the leader to new highs. The stocks on the list today buy back shares in significant amounts and have recently upped their authorizations. The tailwind provided by the new capital allocation is robust and likely to drive the respective stock prices higher over the next twelve months and longer.
