MSN Money - The Speculator writes about companies announcing stock buybacks.

As we pointed out in our column of April 18, 2002, our own study of 224 companies that announced buybacks in 2000 and the first three months of 2001 had superior performance of 30 percentage points a year. We have updated our study again for all the companies that announced buybacks in 2002, and find that these companies outperformed the S&P 500 by 6 percentage points.