Tuesday, July 10, 2007

Buybacks, solid earnings forecasts lift US stock indexes

(Reuters) - U.S. stocks rose on Monday on growing optimism about second-quarter earnings and plans by Johnson & Johnson and ConocoPhillips to buy back their own shares.

J&J gained 1 percent after the health-care company announced plans for a $10 billion share buyback. ConocoPhillips, which nearly quadrupled its repurchase plan to $15 billon, rose 3.7 percent.


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