Unlike Fed, Microsoft and HP Have No Debt and Billions in Cash
Looks like this period of “rapid and profound change” on Wall Street hasn’t much fazed Microsoft (MSFT) and Hewlett Packard (HPQ). This morning Microsoft’s board authorized a new five-year $40 billion share buyback plan and an 18 percent dividend boost. Meanwhile, HP said its board had approved the repurchase of $8 billion in company stock.
Announced before the bell, the plans had a mixed effect on investors. In Microsoft’s case they pushed the company’s shares up nearly 4 percent in early trading. HP shares gained 1.6 percent before starting to head back down.