ConAgra Foods recently announced a $500 million dollar buyback. Last week, the leaders of ConAgra Foods Inc. reminded shareholders about last year's better-than-expected profits at the company's annual meeting Thursday and promised better things to come. The Omaha-based company also announced plans to increase its quarterly dividend from 18 cents to 19 cents per share in December and begin repurchasing $500 million of company stock. The stock trades for 8.5x cash flow.

Lockheed Martin recently announced it will buy back 20 million shares. The defense contractor also recently boosted its dividend by 20%. The stock trades for 10x cash flow.

Tyco Electronics recently announced a $750 million dollar buyback. Tyco Electronics Ltd., the Bermuda-based supplier of engineered electronic components which was spun off from Tyco International in June, said in late September that its board declared an initial quarterly dividend of 14 cents per share. The stock trades for 9x cash flow.

Wyeth recently announced a $5 billion dollar buyback. The pharmaceutical company said last week that it will promote its No. 2 executive to the top spot beginning next year under a planned succession. Bernard Poussot, who has worked at the Madison, N.J.-based company since 1986, will become chief executive officer and president of the company on Jan. 1. The stock trades for 8.5x cash flow.

Metlife recently announced a $1 billion dollar buyback. A Lehman Brothers analyst raised his profit estimates for MetLife Inc. on Monday, saying the life insurer's earnings potential has been sustainably heightened. In a note to clients, Lehman Brothers analyst Eric N. Berg cited the Federal Reserve's recent reduction in interest rates for short-term borrowing, even as investor aversion to risk has pushed up interest rates on long-term investments. The stock trades for 8x cash flow.

Air Products & Chemicals Inc. recently announced a $1 billion dollar buyback. Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, performance materials, equipment, and services worldwide. The stock trades for 12x cash flow.

XL Capital recently announced a $500 million dollar buyback. The Bermuda based global provider of commercial and industrial insurance and reinsurance trades for 4.5x cash flow.

The second largest US oil company said it will repurchase $15 billion worth of common stock over the next three years. Over the last 3 years, the San Ramon based company has returned nearly $30 billion to shareholders through a prior $15 billion stock repurchase program as well as distributing $13.8 billion in common stock dividends. Chairman and CEO David O'Reilly noted that "our continuing strong cash flows have enabled us to fund a significant capital program budgeted at almost $20 billion in 2007, increase dividends to our stockholders, repurchase our shares in the market and reduce the company's debt." Chevron's latest numbers revealed a 24% year over year jump in profits, which obviously is a result of rising crude oil prices, currently over $80 per barrel. And just this week, the chief economist from CIBC said oil could hit $100 per barrel by the end of next year and remain above that point for the foreseeable future. "We're in a world of triple digit oil prices for the foreseeable future," said Jeffrey Rubin at a recent conference. This should bode very well for CVX earnings going forward.