Buybacks soar on the TSX, but there’s a downside [Toronto Globe and Mail (Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
Check Earnings Report
US:NYSE Investor Relations:
cibc.com/en/about-cibc/investor-relations.html
Company Research
Source: Toronto Globe and Mail
Buybacks soar on the TSX, but there’s a downside Canadian companies reluctant to reinvest excess cash are instead buying back their own shares at a furious pace. Buybacks by companies in the S&P/TSX Composite Index soared to nearly $5-billion in the 12 months up to the end of the first quarter. As a proportion of the whole stock market, that’s around 5 per cent higher than the previous record set a decade ago, according to a report by Ian de Verteuil, head of portfolio strategy for CIBC World Markets. “It has taken some time, but C-suite executives in Canada appear to have found religion on buybacks,” he said. Story continues below advertisement It is a devotion with a downside, however. While buybacks are a quick way to deploy extra cash, reward shareholders, and support an undervalued stock, the corporate sectors in Canada and the United States have a poor record of timing buybacks, historically resorting to them most aggressively at market peaks. “Buybacks are a bull market phenome
Show less
Read more
Impact Snapshot
Event Time:
CM
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
---|---|---|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
Last Price | ||
VWAP | ||
High:
|
Max Up |
High:
|
Low:
|
Max Down |
Low:
|
%
|
Post news range |
%
|
|
Price change |
|
|
Price Change Percentage |
|
|
S&P 500 (SPX) |
|
%
|
Volume ratio |
%
|
Volume | ||
Ticks | ||
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CM alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CM alerts
High impacting Canadian Imperial Bank of Commerce news events
Weekly update
A roundup of the hottest topics
CM
News
- BUHLER INDUSTRIES RECEIVES ADDITIONAL FINANCING [Yahoo! Finance]Yahoo! Finance
- Canada Economy on Track to Beat First-Quarter Forecasts [Yahoo! Finance]Yahoo! Finance
- Canada Economy on Track to Beat First-Quarter Forecasts [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Canada's economy grows more than expected [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Canada Economy on Track to Beat First-Quarter Forecasts [BNN Bloomberg (Canada)]BNN Bloomberg
CM
Earnings
- 2/29/24 - Beat
CM
Sec Filings
- 3/28/24 - Form 424B2
- 3/28/24 - Form 424B2
- 3/28/24 - Form FWP
- CM's page on the SEC website