Corning [GLW], Cisco [CSCO] and TD Amerirpise [AMP) also have a lot of cash on their balance sheets. It wouldn’t surprise me to see them buyback as well.

Ameriprise Financial Inc.'s board approved $1.5 billion to repurchase shares in the next two years, the financial services firm said Tuesday.

Ameriprise plans to finance the move through existing capital, future earnings and traditional borrowings.

The stock trades for 5x cash flow.

Buy - Price 50.29 on April 23
by UBS

Target: 68. AMP reported 1Q08 operating [earnings per share] of 89 cents, missing our 93 cents/consensus 97 cents. Lower equity markets and interest rates hurt op-EPS, but [there was a] 16-cent tax benefit. We're lowering our '08 and '09 operating EPS to $4.22 and $5, from $4.45 and $5.09, to reflect 1Q08 results/ assumption changes. Market cap: $11.4 billion.

Ameriprise (AMP) was downgraded from Outperform to Market Perform, Wachovia said. Estimates also cut, as the company is being hurt by the weak equity market.

I love Amerprise (AMP) and Raymond James (RJF) says Guy Adami. But they’re not quick trades. These are the kinds of stocks you buy and hold.

Broker Recommendation

no feelings

progressive financial

Spin, Buffet

I liked the chart pattern and the business seemed to have good growth prospects since we are all growing older

Savvy leaders but attrocious product Old affluent customers no longer affluent and wising up.

Warren Buffet sold out