Hewlett-Packard Co. (NYSE: HPQ) has decided to jump in on the stock buyback bandwagon. Its new share buyback program is for $8 billion in common stock. At current prices, this would represent over 165 million shares of its current and approximately 2.5 billion outstanding shares. This buyback is not a complete chopping off of existing shares to shrink the existing float. The company says that it intends to use this additional plan as part of an ongoing program to manage dilution created by shares issued under its employee stock plans and to repurchase shares opportunistically. It says it bought back $1.6 billion of stock in Q3 and had about $3 billion under its existing $8 billion plan approved in November 2007.
Jon C. Ogg September 22, 2008
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
Hewlett-Packard Co. (NYSE: HPQ) has decided to jump in on the stock buyback bandwagon. Its new share buyback program is for $8 billion in common stock. At current prices, this would represent over 165 million shares of its current and approximately 2.5 billion outstanding shares. This buyback is not a complete chopping off of existing shares to shrink the existing float. The company says that it intends to use this additional plan as part of an ongoing program to manage dilution created by shares issued under its employee stock plans and to repurchase shares opportunistically. It says it bought back $1.6 billion of stock in Q3 and had about $3 billion under its existing $8 billion plan approved in November 2007.
