Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Hewlett-Packard Authorizes $10 Billion Stock Buyback

Hewlett-Packard’s board of directors has authorized the company to buy back $10 billion worth of the company’s shares, according to a regulatory filing made with the Securities and Exchange Commission today.

The new authorization comes on top of another $10 billion authorized last year, of which about $4 billion has been used.

As of April 30, HP had $12.7 billion in cash. The company says it will use the authorization “from time to time” to buy shares back “opportunistically,” or when the share price is low, and to offset dilution created by employee stock plans.

HP shares rose 95 cents, or more than 2.5 percent, closing at $36.23 during the regular session, and rose further in after-hours trading after the filing became public. The shares have fallen by 14 percent since the start of the year.


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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik