LIVE MARKETS-Buybacks looking strong so far this earnings season

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BUYBACKS LOOKING STRONG SO FAR THIS EARNINGS SEASON

Stock buybacks this U.S. earnings season have been impressively high, according to Winston Chua, analyst at EPFR.

The daily average amount throughout the past five weeks is $9.2 billion, currently the third-highest on record dating back to 2006, he wrote in a note this week.

"Buybacks have only twice ended an earnings season averaging above $9 billion," he noted.

Nine companies have announced at least $10 billion in buybacks and have accounted for 57% of the overall total, he wrote.

Leading that list are Citigroup C.N, with $20 billion; Netflix NFLX.O, with $15 billion; PayPal PYPL.O, with $15 billion; and Eli Lilly LLY.N, also with $15 billion, he wrote.

(Caroline Valetkevitch)

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