Buybacks lose their luster

Stock buybacks used to guarantee an instant stock boost. Not anymore.

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Merrill Lynch
Merrill Lynch
Buyback amount: $6 billion

Date announced: 2/27/06

Stock price day before: $76.76

Stock price day of: $77.88

Percent change: Up 1.46%

Current price (10/15/08): $18.24
By Mina Kimes, reporter

NEXT: Home Depot
Last updated October 17 2008: 12:39 PM ET
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