Companies Approved $107 Billion in Buybacks Ahead of Latest Rout

-- Equity bulls looking for signs of relief after Tuesday’s stock rout may get a hand from a familiar friend: corporate America.Hong Kong’s Arts Hub Turns to Selling Land to Stay Afloat

“Companies are getting comfortable with their outlooks for the next few months and they’re generating a lot of cash,” said Jeff Rubin, president of Birinyi Associates. “It tells you that companies’ earnings are healthy and their cash flows are healthy across the spectrum,” Rubin added. In the meantime, spending money on stock has repeatedly drawn criticism from politicians and academics who say the cash would be better used to help boost long-term growth, such as for employee benefits or equipment upgrades. Last year, a law went into effect imposing a 1% tax on buybacks.

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