Buybacks Help Drive Market Recovery

International Business Machines Corp., BellSouth Corp. and other U.S. companies stepped up their plans to buy back shares, helping pull the stock market out of a slump.

With the market dropping 11 percent over the previous four days, companies are saying their stock prices are good values.

“The opportunity in the market is a reason to do it and do it quickly,” said BellSouth Chief Financial Officer Ronald Dykes, whose company started buying back shares Tuesday.

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Where does the money go?

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