The wave of share buybacks by public companies, which took off in the first quarter of 2011 when companies bought back nearly $90 billion shares, is continuing with buybacks through June 3 totaling $263 billion, up from $164 billion by the same date last year.

As of June 28, buybacks were announced by 40 companies including McGraw-Hill, Campbell Soup, Medtronic, Best Buy, Progressive Insurance, Smithfield Foods, General Dynamics and Prudential Financial.

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