These 3 Stocks Are Using Buybacks to Signal Market Confidence

Key Points

• Trade Desk lifted its buyback authorization with shares down over 60%. Its future spending pace may indicate how confident management is going forward.
• Thermo Fisher added a $5 billion buyback program and continues opportunistic repurchases tied to market valuation.
• Tapestry plans to return 100% of free cash flow to shareholders in FY2026, boosting its buyback target to $1 billion.

Several key stocks are making notable buyback announcements. Below, we examine the latest moves by Trade Desk, Thermo Fisher, and Tapestry—and what they reveal about each company's capital return strategy.

Trade Desk Ups Buybacks by $500 Million, But Spending Pace Could Slow

First up is Trade Desk NASDAQ: TTD. This stock has endured a brutal year, with shares down 64% after the company's Q3 earnings report resulted in a nearly 39% fall on Aug. 8. Slowing growth and concerns about competition from Amazon.com NASDAQ: AMZN have led to worries that Trade Desk is losing its competitive position. 

On its Q3 earnings call, the company announced the approval of a $500 million repurchase authorization, 2.5% of the firm’s market capitalization.

This figure is relatively modest, considering the company spent around $1.14 billion on buybacks last year. Thus, if used over the next 12 months, the $500 million program would represent a significant deceleration in the firm’s buyback pace.

With the stock trading at its lowest point in over three years, investors may have expected a more aggressive repurchase commitment.

Still, the company could use its current authorization quickly and announce a new one shortly thereafter. The pace at which this authorization is deployed will offer insight into management's confidence in Trade Desk's potential for a turnaround. 

Thermo Fisher: Opportunistic Repurchaser Adds $5 Billion Authorization

Thermo Fisher Scientific NYSE: TMO is the world’s most valuable stock in the life sciences and tools industry. Shares have notched an approximately 12% total return in 2025.

The company’s Q3 2025 earnings results were strong, beating estimates on both sales and earnings per share.

The market also reacted very positively to Thermo’s deal with Vaxcyte NASDAQ: PCVX, where the latter secured space in Thermo’s North Carolina manufacturing facility, committing up to $1 billion.

This news sent Thermo shares up by 5% on Sept. 30, and another 9% on Oct. 1.

On Nov. 6, the company announced a $5 billion repurchase authorization, equal to about 2.3% of the firm’s approximately $218 billion market capitalization.

The new authorization allows Thermo to maintain a strong repurchase pace if it chooses. The company spent $1 billion on buybacks last quarter and has allocated $3 billion to repurchases so far in 2025—even after skipping buybacks entirely in Q2.

Thermo’s approach is typically opportunistic rather than consistent, with large buybacks in some quarters and none in others. It tends to repurchase shares when the stock price dips significantly, aiming to enhance shareholder value by timing its purchases strategically.

Tapestry Looks to Return 100% of Cash Flow to Shareholders

Last up is consumer discretionary stock Tapestry NYSE: TPR. Tapestry owns a variety of luxury brands, including Coach and Kate Spade. The stock has had an impressive year, delivering a total return of 57%. Coach, which accounted for around 84% of total revenue last quarter, has continued to drive the company’s success.

While the company didn’t increase its repurchase authorization, it revised its fiscal year 2026 buyback target upward to $1 billion, up from its previous projection of $800 million.

This would represent approximately 4.8% of the firm’s market capitalization, with half of this spending yet to be incurred.

Tapestry has been returning capital to shareholders hand over fist.

It spent over $2.8 billion on buybacks over the last 12 months, delivering a 12.6% buyback yield.

Add in its 1.6% dividend yield, and the company’s goal to return 100% of free cash flow to shareholders in FY2026 is a significant commitment to capital returns.

TTD, TMO, TRP Offer Different Approaches to Buybacks

The buyback announcements and capital return policies of Trade Desk, Thermo Fisher, and Tapestry are all intriguing. With shares down so massively, it would be an encouraging sign for Trade Desk to use its newfound buybacks quickly. Thermo Fisher’s practice of reserving buybacks for periods when shares are down has the potential to add considerable value for shareholders. Meanwhile, Tapestry’s aggressive shareholder return plan underscores confidence in its core business and financial health.

As each company moves forward, the execution and pacing of buybacks will be a telling indicator of management priorities and long-term strategic thinking.