08-Dec-09 17:30 ET TRN Trinity Industries announces extension of stock repurchase program >>>>>>>>>>>Co announced that its Board of Directors has authorized an extension of its program for the repurchase of its common stock. This extension allows for the repurchase of the Company's stock through December 31, 2010. The repurchase program originally commenced in 2007 with an authorization of $200 mln.
I have become skeptical of companies share butbacks. Sometimes there is a small pop on the news but not real price appreciation. The number of shares outstanding does not seem to go down. Maybe they just buy them back to provide options to executives, who then just exercise the options and the shares are back on the market.