MetLife Inc., the largest U.S. life insurer, recently said it expects operating profit to increase for the fourth quarter and full year, helped by unusually strong investment results. The New York-based company also expects in 2008 to achieve a 13 percent to 13.6 percent operating return on equity, and to buy back $2.2 billion of stock. It set a goal of 15 percent operating return on equity by the end of 2010. The stock trades for 7x cash flow.

R.H. Donnelley Corp. recently announced that it expects advertising sales of about $2.75 billion in 2008. The Cary, N.C., telephone directory publisher also forecast free cash flow of at least $620 million and operating cash flow of $710 million next year. The company affirmed its 2007 outlook, except that it now expects weighted average fully diluted shares outstanding for the year of 72 million vs. previous guidance of 72.5 million. Donnelley also said its board approved the buyback of up to $100 million of its common shares. The stock trades for 8x cash flow.

Hubbell Inc., which makes lighting and wiring products, recently said its board has approved a new share repurchase program of up to $200 million of its Class A and Class B stock. The program will start when a current $200 million buyback, approved in February, is completed. There is about $73 million worth of stock remaining to be purchased under that authorization.

Hubbell Inc., which makes lighting and wiring products, recently said its board has approved a new share repurchase program of up to $200 million of its Class A and Class B stock. The program will start when a current $200 million buyback, approved in February, is completed. There is about $73 million worth of stock remaining to be purchased under that authorization.

Technology services company Electronic Data Systems Corp. recently said its board approved a stock buyback program authorizing the repurchase of up to $1 billion in common stock over the next approximately 18 months. The buyback represents about 50.3 million, or 9.8 percent, of the company's about 512.1 million outstanding shares. The stock trades for 4.5x cash flow.

Axis Capital Holdings Ltd said its board approved a 12 percent increase in its quarterly common dividend, and authorized a share buyback program of up to $400 million. The stock trades for 4.6x cash flow.

Switzerland-based eye care products maker Alcon Inc. said last week that it approved a stock buyback program of up to $1.1 billion. Under the buyback's terms, the company will purchase three shares from majority shareholder Nestle SA, the world's largest food and drink company, for every share acquired by Alcon in the open market. Alcon expects to repurchase the shares over a year term starting in the first quarter of 2008. The company said it will finance the purchases with cash and investments on hand and with funds from operations. The stock has a forward PE of 23.

Discover's board authorized up to $1 billion in stock repurchases over the next three years. Discover Financial Services LLC issues credit cards under the Discover Card brand name.