NN, Inc. (NDAQ: NNBR) shares surged higher after the company announced a new $20 million share buyback program. The program would result in a little less than a 10% reduction in the number of shares on the open market. Investors are hoping that this reduction will help boost the company's earnings per share number as less shares outstanding increases the equation. This should then encourage investors to revalue the stock at a higher multiple.

Buying back stock is good for several reasons. First, it uses up excess cash on the balance sheet and provides a better return than the money market. Secondly, buying back stock can increase the company's return on equity along with other financial ratios as less shares outstanding increases the fraction in many cases. And finally, buying back stock has a psychological effect on the market in that it signals that the firm itself believes that its shares are undervalued.

NN, Inc. operates in three segments: the metal bearing components segment, the plastic and rubber components segment, and the precision metal components segment. Within the metal bearing components segment, the Company manufactures and supplies high-precision bearing components, consisting of balls, cylindrical rollers, tapered rollers and metal retainers, for bearing manufacturers on a global basis.

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The Chinese biotechnology industry is quickly growing at 20% to 30% annually into a an estimated $8.5 billion industry by 2010. The Chinese government has facilitated much of this growth by making biotechnology and drug discovery a top priority in the 11th 5 Year Plan (2006-2010) and making annual contributions of $600 million to advance industry development along with granting incentives such as tax exemptions. Meanwhile, the Chinese pharmaceutical industry is expected to be the 5th largest in the world by 2010.

Sinobiomed Inc. (OTC-BB: SOBM) is a leading Chinese developer of genetically engineered recombinant protein drugs and vaccines. Currently, the company has 10 products approved or in development: threee on the market, one awaiting approval, four in clinical trials, and three in research and development. The company's drugs focus on responding to a wide range of diseases, including malaria, hepatitis, surgical bleeding, cancer, rheumatoid arthritis, diabetic ulcers and burns, and blood cell regeneration.

Recombinant protein and enzyme drugs, like those produced by Sinobiomed, are valued for their safety and efficacy. Through partnerships with key research hospitals and institutes, Sinobiomed has build a substantial portfolio of these drugs. Additionally,  Sinobiomed has the ability to manufacture a large quantity of bio-products at extremely low costs through a patented high-yield production process that enhances bioactivity and encourages the highest levels of purity in the drugs.

Investors looking for more information on this industry as well as Sinobiomed can check out their website at Sinobiomed.com. The company's stock is listed on the OTC-BB exchange under the ticker symbol SOBM.

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Joy Global Inc. (NDAQ: JOYG) shares surged higher today after the company announced that it would buyback an additional $1 billion in additional shares. The move is quite significant given the fact that the company only has a $5.31 billion market cap - meaning that it would be repurchasing nearly 20% of its shares. The theory is that this reduction in shares outstanding would increase the earnings per share number and force investors to re-evaluate the firm's multiple - presumably higher.

Buying back stock is good for several reasons. First, it uses up excess cash on the balance sheet and provides a better return than the money market. Secondly, buying back stock can increase the company's return on equity along with other financial ratios as less shares outstanding increases the fraction in many cases. And finally, buying back stock has a psychological effect on the market in that it signals that the firm itself believes that its shares are undervalued.

Joy Global manufactures and services mining equipment for the extraction of coal and other minerals and ores. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands and other minerals. Sales of original mining equipment for the mining industry, as a class of products, accounted for 37% of Joy's consolidated sales for fiscal year ended October 26, 2007. Shares of the company rose $3.47, or 8.38%, to $48.74 per share in mid-day trading.

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