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Post by deasys on Jan 29, 2018 14:44:08 GMT -8
Hopefully, Apple did too. According to many, there's a 'blackout period' during which companies can't buy back their own shares. Does anybody have correct knowledge on this one? I don't know if this is "correct" knowledge, dreamRaj, but I found this: www.marketwatch.com/story/these-stocks-are-most-vulnerable-to-the-buyback-blackout-2016-03-21"Under Securities and Exchange Commission rules, companies are required to pause share buybacks during a so-called blackout period, which lasts about five weeks before each respective company’s earnings report until about 48 hours after results are announced."Let the games continue…
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Post by Luckychoices on Jan 29, 2018 14:45:02 GMT -8
If it was easy, *every* investor would be an AAPL Long. Cheers to the AFB Longs!! Another January, another misleading iPhone supply cuts story from NikkeiThis year, Nikkei has claimed Apple is slashing production orders for iPhone X due to "slower than expected holiday sales" the U.S., China, and Europe. The report comes right after CIRP noted that iPhone X outsold iPhone 8 Plus, and that both larger models outsold the standard sized iPhone 8. iPhone X by itself outsold the now very attractively-priced iPhone 7, as well as the combined sales of all iPhone 6s, 6s Plus and SE models--despite being on sale for five fewer weeks than all of those other models.
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Post by rickag on Jan 29, 2018 15:10:36 GMT -8
According to many, there's a 'blackout period' during which companies can't buy back their own shares. Does anybody have correct knowledge on this one? I don't know if this is "correct" knowledge, dreamRaj, but I found this: www.marketwatch.com/story/these-stocks-are-most-vulnerable-to-the-buyback-blackout-2016-03-21"Under Securities and Exchange Commission rules, companies are required to pause share buybacks during a so-called blackout period, which lasts about five weeks before each respective company’s earnings report until about 48 hours after results are announced."Let the games continue… I don’t believe the S.E.C. has set a blackout period for stock repurchase programs at all. These are company/corporate rules so they don’t run into stock manipulation and insider trading charges. I remember reading a response from Apple that they have set a 3 week blackout before the ER, but they excluded any repurchases they scheduled far in advance. Stock Buybacks: The RulesIn the past I actually tracked down the S.E.C. rule in the Code of Federal Regulations, but haven’t done so this time.
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Post by rickag on Jan 29, 2018 15:19:27 GMT -8
I don’t believe the S.E.C. has set a blackout period for stock repurchase programs at all. These are company/corporate rules so they don’t run into stock manipulation and insider trading charges. I remember reading a response from Apple that they have set a 3 week blackout before the ER, but they excluded any repurchases they scheduled far in advance. Stock Buybacks: The RulesIn the past I actually tracked down the S.E.C. rule in the Code of Federal Regulations, but haven’t done so this time. Found it Code of Federal RegulationsAnd no I haven’t read it, dig in, a fun read in government speak. aaaaarrrrrrggggghhhhh
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Post by rickag on Jan 29, 2018 15:25:56 GMT -8
One last thing, if you contact Apple’s investor services I am sure they will respond with their corporate guidelines concerning their blackout policy.
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Post by dreamRaj on Jan 29, 2018 15:44:05 GMT -8
I don’t believe the S.E.C. has set a blackout period for stock repurchase programs at all. These are company/corporate rules so they don’t run into stock manipulation and insider trading charges. I remember reading a response from Apple that they have set a 3 week blackout before the ER, but they excluded any repurchases they scheduled far in advance.Stock Buybacks: The RulesIn the past I actually tracked down the S.E.C. rule in the Code of Federal Regulations, but haven’t done so this time. If the "excluded any repurchase they scheduled in advance" is true, Apple should learn a lesson from these regular manipulations and schedule in advance daily buybacks for the two weeks before ER. Just a random idea but something like 5 million shares a day would help in stabilizing the scene a bit. Not sure about the dynamics involved in such an implementation but it's time they tried some smart way of tackling this BS!
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Post by CdnPhoto on Jan 29, 2018 16:52:12 GMT -8
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4aapl
Moderator
Posts: 3,654
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Post by 4aapl on Jan 29, 2018 19:44:42 GMT -8
One last thing, if you contact Apple’s investor services I am sure they will respond with their corporate guidelines concerning their blackout policy. ok, there's no "internal only" markings on it, and it's from 16 years ago, so I feel ok sharing the following... In FY '02, the "mandatory blackout" period for those affected (basically directors, or those given huge amounts of options) was a 6 week period starting 48 hours after earnings, where earnings was generally a Wednesday afternoon. So basically of the quarter, nearly 6 weeks before earnings. They might still follow that (from the law department), though personally for share buyback I would hope they wouldn't be so stringent. To me, if it helps an individual, that could be construed as bad. But if it helped the company and all shareholders, that seems like an ok thing. I believe in general the exception is if a play is set up in advance. I think, but don't know, that if Tim set up a plan to sell 100k shares a month before earnings, every quarter for the next 3 years, that he would be ok. Anyways, just a little info from long ago. The basics are that half the quarter is blacked out. I have a friend at another company that is worried about this sort of thing right now, as he has slowly climbed the corporate ladder and earned some shares and/or options. He's in a non-tech industry, but likely has the same "mandatory blackout" advisory in order to keep him from potential trouble with the SEC. And while I doubt he should be worried about ever being investigated, his safe harbor guidelines should be similar, and he really shouldn't be worried about selling part or even all of his position unless he really feels he has a huge insider knowledge that lets him know to "sell sell sell!"
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Post by archibaldtuttle on Jan 29, 2018 23:35:28 GMT -8
Futures look bad. Looks like the broad market is about to deal another crushing blow...
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