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Technology Stocks : Cymer (CYMI)
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To: Maxwell who wrote (17168)4/26/1998 10:26:00 PM
From: Tulvio Durand  Read Replies (1) of 25960
 
Maxwell, it is not uncommon for management to announce a shares buyback and then not execute it. I vaguely recall that only 30% of announced buybacks are actually executed. Buying back shares is a defensive measure, to be executed only if absolutely needed. Cymer's best use of its cash is in IRD and other things it needs to support and expand its product line. I would rather see the money spent on lengthening their technological lead over their competitors. Curly, the quintessential proponent of a shares buyback, has recently stated that a buyback now may not be in Cymer's and stockholders' best interest (Correct me if I'm wrong, Curly). Credibility is not the issue here, IMO. Tulvio
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