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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (44805)10/17/2003 3:28:15 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
CISCO SYSTEMS AUTHORIZES $7 BILLION BUYBACK

CISCO SYSTEMS (CSCO, $21) announced that it has authorized a $7 billion stock buyback, with no specific termination date. Under a previous authorization, Cisco had $5.2 billion remaining to re-purchase, which brings the total authorized repurchase program to $12.2 billion. Since 2001, Cisco has re-purchased $7.1 billion of its own stock.

This news is good for investors, as it indicates that the company believes in itself enough to actually buy its own stock in the open market.
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