The first reason we took interest in Chesapeake Energy is because the CEO Aubrey McClendon recently purchased 101,500 shares worth $3.5 million. The first thing you may see in looking at Chesapeake is that the domestic natural gas producer recently said its first-quarter net earnings plummeted more than 60% from last year. Chesapeake attributed the decline in profits to shrinking exploration-and-production margins and a $193 million charge from a mark-to-market hedging program. Excluding the charge, Chesapeake earned $425 million, or 87 cents a share, in the quarter. On that basis, analysts at Thomson Financial were expecting 78 cents. So the company's adjusted profits still exceeded analysts' expectations. Despite the tough Q1 earnings, the Oklahoma City-based company has returned 22% year to date, and analysts like ValuEngine still see more upside to come. ValuEngine has issued a Strong Buy (only 2% of the 4000 companies ValuEngine cover receive a “Strong Buy” rating) for Chesapeake noting, "the company exhibits attractive company size, P/E ratio and risk.”

Cognos recently announced a $200 million dollar buyback which adds to its prior plan. Cognos was also recently upgraded by Friedman Billings. The stock trades for 13x cash flow.

CTS Corp. recently announced it will buy back 6% of outstanding shares. CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, and provides electronics manufacturing services. The stock trades for 8x cash flow.

Charles Schwab recently said it will buy back over 100 million shares for $3.5 billion and issue a special one-time dividend of $1 per share. The San Francisco brokerage house will finance the buyback using $2.7 billion in cash made from the sale of its financial-services subsidiary, U.S. Trust, to Bank of America. The large buyback, priced between $19.50 and $22.50, and representing 7% of the company's outstanding shares, is an effort to keep founder and chief executive Charles Schwab at his current 18% stake. In the first quarter Charles Schwab saw profit rise 12%, marking the eighth consecutive quarter of double-digit earnings growth. Amid the turbulent beginning part of the year, the company made $273 million or 22 cents a share. Investors anxiously await SCHW's second quarter numbers to be announced Monday July 16th. The company expects another strong quarter with earnings of 23 cents a share. Analysts at Deutsche Bank view Charles Schwab's $3.5 billion capital restructuring plan as a positive catalyst and raises their 2007 estimates from 92 cents to 96 cents and 2008 from $1.12 to $1.21. Analysts note the higher than expected buyback will go over favorably with investors, "as Schwab appears to be focused on creating shareholder value." Deutsche Bank maintains their Buy rating, and said "our view is that the total return potential to our 12-month price target is attractive."

Healthways recently announced a $100 million dollar buyback over 2 years. The disease management program administrator recently slashed its fiscal-year profit and revenue forecasts due to Medicare expenses. The stock trades for 13x cash flow.

Devon Energy recently announced its annual program which adds to its prior plan. Devon Energy Corporation and its subsidiaries primarily engage in oil and gas exploration, development, and production; the transportation of oil, gas, and natural gas liquids; and the processing of natural gas. The stock trades for 6x cash flow.

Next on the list is Tektronix. The Beaverton, Oregon based Tektronix recently added $350 million to the company’s buyback program. The addition will bring the overall total to $691 million or 20.5 million shares which represent 26% of total outstanding shares. To finance the buyback, the company will use $358 million available cash on its balance sheet, along with $128 million in free cash flow it has generated over the past year. For additional financing, Tektronix plans to sell $300 million worth of convertible notes. The maker of tests and measurement equipment also recently issued its 6-cent quarterly dividend. Tektronix saw mixed results in the fourth quarter as revenue rose 3.2% but profits fell 12% due to costs that outweighed sales growth. On a positive note, the core instrument business was up 3% and operating margin improved a percentage point to 16.4%. Though Tektronix experienced a tough 4th quarter, analysts at Thomas Weisel Parter still find the valuation attractive. Analysts maintained their “Outperform” rating and raised the price target from $37 to $39 with the following thesis, "TEK appears well-positioned to benefit from its rich portfolio of products and solid new product pipeline targeting expanded addressable markets. Despite volatility in its communications test business, we expect an improving trajectory in key metrics through FY08, and solid growth and margin expansion through FY09.” They continue, “We expect improving metrics over the next several quarters to drive acceleration in earnings growth and a multiple expansion for the stock.”

Mayflower Bancorp recently announced it will buy back 5% of outstanding shares. Mayflower Co-operative Bank provides various banking services to individuals, families, and small businesses in Massachusetts.