DaimlerChrysler announced a $10.2 billion dollar buyback over 1 year. DaimlerChrysler AG and its former partner Chrysler posted weaker results in the second quarter as their trans-Atlantic union dissolved, but executives said last week that they're optimistic about the rest of this year despite a sales slump in the U.S. market. The stock trades for 8x cash flow.

Compuware recently announced a $200 million dollar buyback which adds to its prior plan. The software products maker based in Detroit said last week that it plans to lay off 100 people to cut $13 million in costs a year. The stock trades for 11x cash flow.

Ensco International announced a $500 million dollar buyback. ENSCO International Incorporated, together with its subsidiaries, operates as an offshore contract drilling company in the United States and internationally. The stock trades for 5.5x cash flow.

Medicis announced a $200 million dollar buyback. In early August, the prescription acne and skin medication maker raised its full-year profit forecast. The stock trades for 14x cash flow.

Essex Property Trust recently announced a $200 million dollar buyback. The REIT was recently upgraded by Banc of America from Neutral to Buy. The stock has a PE of 20.

Atmel announced a $250 million dollar buyback. CEO Steve Laub said the company is making progress in its plan to focus on products with high-growth rates and high-profit margins, such as microcontrollers. He said Atmel would implement "additional initiatives during the remainder of 2007 to unlock shareholder value." The stock trades for 9x cash flow.

Two officers and a director bought 56,300 shares or $1,437,000 worth of stock. A Cowen and Co. analyst on Tuesday upgraded American Eagle Outfitters Inc., saying she expects the company to report strong August sales Wednesday. Lauren Cooks Levitan, in a client note, raised her rating on shares to "Outperform" from "Neutral," saying investors should buy shares ahead of the anticipated strong August sales report. The month includes the key back-to-school shopping season. The stock trades for 6.7x cash flow.

Frontier Oil is in this week’s portfolio. The Houston-based hydrocarbon refiner recently added $100 million to its existing $200 million buyback plan. Under the existing plan the company has repurchased $188 million, or 5.1 million shares, with about $10 million still remaining. The company expects to complete the new buyback plan along with the left over shares by the end of 2007. And with $380 million in net cash, funding the increased buyback is easily affordable. Last month, Frontier Oil impressed shareholders with the most profitable quarter in company history. The company reported second quarter net income of $243.8 million, or $2.23 a share compared with net income of $145.9 million or $1.29 a share, for the same period in 2006. Revenue jumped to $1.4 billion from $1.3 billion. Although one of their plants shut down for 30 days, over 750 employees at their other facilities kicked it into high gear and produced record numbers, said management. CEO, Chairman and President of Frontier, James Gibbs said, "I had hinted in our first-quarter call that there would be a 30-day, plant-wide turnaround in May, but we didn't think we would see them in the results." He added, "This has exceeded even my expectations." Analysts at Caris & Company upgraded Frontier from Average to Above Average. The exceptional second quarter earnings caught there attention at first, but the equity research firm was also impressed by the solid margin and net cash growth. The firm believes FTO is attractive at its current valuation and expects the exceptional earnings to continue.