Traders and investors in Europe welcomed the move by Greece Monday to buy back up to 10 billion Euros of its outstanding bonds at a price from 30 to 40 cents on the dollar.
We looked for companies that had both quarterly and annual reductions in outstanding shares, a price-to-earnings ratio of less than 25, three-year earnings per share growth of more than 15% and debt to total capital of less than 30%.
In overnight news, the Euro currency and European stocks were given a boost when Greece announced it would buy back up to 10 billion Euros of its outstanding bonds at a price from 30 to 40 cents on the dollar.