Jack Henry & Associates Inc. said recently it will add 5 million shares to its existing stock repurchase authorization plan, bringing the total to 20 million shares. The Monett, Mo.-based company, which provides computer systems to financial institutions, will buyback the stock using existing cash and a revolving credit facility. "We believe that repurchasing shares of our stock is a great use of capital that will increase earnings per share and provide returns both in the current year and should also compound in the future as we continue to grow," said chief financial officer Kevin Williams.

Web.com, a leading provider of online marketing for small businesses, recently announced that its Board of Directors has authorized the repurchase of up to $20 million of the Company's outstanding common shares over the next eighteen months. ``Web.com's share repurchase program is in line with our strong ongoing commitment to enhance shareholder value,'' stated David Brown, Chairman and CEO of Web.com. ``With strong profitability margins, growing cash flow and confidence in our long-term growth strategy, we believe our stock repurchase plan is an excellent use of our cash at this time.'' The stock trades for 9x cash flow.

China Nepstar Chain Drugstore Ltd., the largest drugstore chain in China based on the number of directly operated stores, recently announced that its board of directors has authorized a share repurchase program. Under the terms of the approved program, China Nepstar may repurchase up to US$40 million of worth of its issued and outstanding American Depositary Shares ("ADSs") from time to time over the next 16 months. The stock trades for 6x cash flow.

The board of directors of Steel Dynamics Inc. has authorized the buyback of an additional 10 million shares of company stock under the company’s existing repurchase plan. On July 29, the Fort Wayne, Ind.-based company’s board approved the repurchase of 5 million shares. It earlier had approved the buyback of 3.9 million shares. Since the July 29 authorization, Steel Dynamics (NASDAQ: STLD) has repurchased 7.9 million shares, the company said in a news release. “This increase in authorized shares, on top of our recent strong share repurchase activity, is as clear an indication as our board and management can give of our belief that our stock is significantly undervalued,” Steel Dynamics chairman and CEO Keith Busse said in the release. “We continue to believe that the purchase of our stock at these prices will deliver outstanding value to our stockholders and is one of the most appropriate uses of our resources at this time. Moreover, we believe that we can do this without sacrificing expansion, capital investment or growth plans.” The stock trades for 5.4x cash flow.

The Woodlands, TX-based company announced a new $5 billion- dollar buyback program. The new repurchase amount, which replaces the previous buyback plan, represents about 18% of the company’s outstanding common shares. Anadarko added that it intends to repurchase $600 million worth of shares before the end of 2008 and the rest of the buyback has an expiration date of August 2011. The repurchases will be funded by free cash flow from operations. Anadarko Chairman and CEO Jim Hackett commented, “Our company's substantial net asset value is not reflected in our stock price. The share repurchase program capitalizes on this opportunity to materially benefit our shareholders.” He continued, “Our capital-efficient portfolio is generating material free cash flow at current prices, enabling us to both increase our capital spending levels and complete the share repurchases over the next three years - all while targeting a debt-to-cap ratio of between 25 and 35 percent.” The oil and natural gas producer reported dismal second-quarter earnings on August 5, 2008. During the period the company earned $23 million, or 5 cents a share, compared with a profit of $1.3 billion, or $2.81 a share, in the same period last year. Revenue came in at $2.78 billion, down from $4.58 billion in the year ago period. The company explained that losses from hedging related to derivatives substantially brought down profits. Despite the poor earnings, Tristone Capital has a buy rating on Anadarko and considers the stock to be one of their top picks. They were bullish on the fact that the buyback was significantly larger than expected and that Anadarko plans to increase capital spending in 2009. The analysts said, “APC is guiding to increased capital expenditures in ‘09 most likely to fast-track development of Jubilee and Tonga West, ramp-up onshore US development, as well as pursue follow-on opportunities from its ‘08 success.” Tristone gave the stock a $118 12-month price target, representing 105% expected return.

The maker of high-end hand bags announced that its board of directors authorized the repurchase of up to $1 billion in common stock. The New York-based company plans to complete the buyback by June 26, 2010. Coach recently completed its previous $1 billion-dollar buyback plan, which was initiated in November of 2007. The company repurchased 31.8 million shares at an average cost of $31.42 per share. Lew Frankfort, Chairman and CEO of Coach said, "The stock repurchase program is designed both to increase economic value for shareholders and to offset share issuances under our employee compensation plans. Coach's strong financial condition allows us to take advantage of opportunities to purchase our securities at attractive prices, particularly considering our excellent long-term outlook." On July 29, 2008, Coach issued excellent fourth-quarter results. Net income jumped 47% to $213.5 million, or 62 cents a share, from $160.6 million, or 42 cents a share, recorded in the same period last year. Favorable tax gains and a weak dollar helped fuel profit gains. Revenue increased 20% to $718.5 million from $652.1 million in the year ago period. Even amid the weak U.S. consumer, revenue in North America was better by 18%. We like to see that Needham Research has a buy rating on Coach. Analyst Christina Chen said, “The luxury consumer continues to spend on trend right handbags as evidenced by the increase in sales of handbags priced over $400 which accounted for 24.0% of US retail sales in F4Q, up from 17.0% last year.” She has a $37-dollar price target on the stock.

The discount wholesale club store announced that its board added $200 million to the buyback program. Including the new $200 million authorization, the company now has about $291 million available for repurchase. Since the beginning of 2008, BJ’s has bought back 2.4 million shares for about $83 million. On August 20, 2008 the Natick, MA-based company reported second quarter results with net income of $36.5 million, or 61 cents a share, compared with $36.3 million, or 55 cents a share, earned in the same period of 2007. Total revenue for the second quarter reached $2.65 billion, a 17.9% increase from revenue of $2.25 billion in the second quarter of 2007. BJ’s experienced a 15.5% surge in comparable club sales, including an 8.1% contribution of gasoline sales. The company forecasted full-year earnings of $2.10 to $2.20 a share, better than its previous estimate of $2.04 to $2.14. BJ’s expects third-quarter sales to grow by 13% to 15%, with same store sales growing at 6.5% to 8.5%, excluding gasoline.

The Chicago-based utility giant announced that it will repurchase up to $1.5 billion in common stock over the next six months. The exact timing of the repurchases will depend on market conditions. "We have an increasingly strong cash flow profile and balance sheet, which allow us to pursue new growth opportunities and return value to our shareholders, such as through this stock buyback," said John W. Rowe, Exelon's chairman, president and CEO. "We are extremely well positioned in this uncertain market and economy, as our compelling market position supports strong long-term growth and further value creation." In the same press release the company tightened its 2008 earnings outlook. The company now expects full-year results of $4.15 to $4.30 a share, versus a previous forecast of $4.00 to $4.40 a share. The majority of analysts are expecting the Exelon to earn $4.35 a share. Exelon reported second-quarter earnings on July 23, 2008 with a profit of $748 million, or $1.13 a share, compared with $702 million, or $1.03 a share, earned in the same period last year. The company credited the quarterly gain to higher energy margins from increased nuclear output. Profitable proprietary trading also fueled the strong quarter. Analyst Paul B. Fremont from Jefferies & Co. upgraded EXC to buy from hold noting that the stock price is at a discount compared to gas price assumptions. He lowered his price target on the stock to $83 from $90 to reflect a decrease in forward gas priced. However, the new price target still represents a 29% gain from Wednesday’s close.