Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 46.96

-2.8%

Jan 16 9:30 AM EST

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To: Amy J who wrote (143521)	9/17/2001 8:25:06 AM
From: Proud_Infidel	Read Replies (1) of 186894

Intel expands stock buyback plan by 300 mln shares SANTA CLARA, Calif., Sept 17 (Reuters) - Intel Corp. (NasdaqNM:INTC - news), the world's No. 1 computer chip maker, on Monday said it would increase its current stock buyback program by 300 million shares, joining dozens of U.S. companies to initiate or increase repurchase programs in the aftermath of last week's terror attacks. Under previous stock repurchase authorizations, about 63 million shares of common stock remained available for repurchase by the company as of the end of the second quarter of 2001, it said in a statement. During the second quarter, Intel repurchased about 34 million shares at a cost of about $1 billion. Dozens of companies have announced stock repurchase programs in an effort to buoy stock prices after the attacks on in New York and Washington, which destroyed the World Trade Center's twin towers and damaged the Pentagon, leaving thousands dead or missing. Trading in U.S. stock markets is set to reopen at 9:30 a.m. EDT on Monday after being closed since last Monday ahead of the attacks.

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