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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote ()	4/13/2000 9:28:00 AM
From: Ruffian	of 54805

Gemstar to buyback up to $150 mln shares PASADENA, Calif, April 13 (Reuters) - Gemstar International Group Ltd. (NasdaqNM:GMST - news) said Thursday its board has authorised the repurchase of up to $150 million in shares of its common stock. The repurchases will be made, as or if appropriate, over the next 12 months in the open market at prevailing prices, or in privately negotiated transactions at then-prevailing prices. ``The company has been generating significant cash from its operations, and its current stock price level makes repurchasing shares a sound and attractive use of its cash,' the company said in a statement. Shares of Gemstar closed on Thursday at 47. Since March, the company's share price has shed 34 percent of its value.

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