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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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald