Market Wrap-Up for Sept.17 (TXN, ORCL, LMT, NOC, NKE, DRI, more)

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Texas Instruments ( TXN ) is the latest big name out today with a headline-grabbing $7.5 billion share buyback.

When you look at some history on the company, you will find the company has now spent a whopping $27.5 billion in buybacks since 2004, with very little real price appreciation to show for it. What would have happened to the stock price if the company had looked to make some acquisitions that could have boosted the growth prospects/bottom line? Or invested the money in research & development? T.I. could have also been a bit more generous with their dividend payouts as well (you knew my bias would hit on that point). Wall Street loves to applaud the buybacks and the "reduce the float" argument. We'll politely agree to disagree.

Elsewhere, Oracle ( ORCL ) came out with a monster earnings report this morning and the stock traded nicely higher on the day. This is another company that could be doing much more with its dividend payout (granted they recently started paying a dividend in the last year). We also saw some buying in the defense sector, as we continue to see the rotation into sectors that have been under-performing. Lockheed Martin ( LMT ) and Northrop Grumann ( NOC ) led the charge for the defense names. Volume climbed to 4.09 Billion shares on the NYSE. The Dow has closed higher 10 out of 12 sessions so far this month, while the Nasdaq made it 8 winning sessions in a row.

As we look ahead to next week, we inch closer to the next deluge of earnings coming in October. There are some big names reporting next week already, including Darden Restaurants ( DRI ) , Nike ( NKE ) , and General Mills ( GIS ) , to name a few.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: DRI , GIS , LMT , NKE , NOC , ORCL , TXN

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