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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Paul Fiondella who wrote (22503)6/6/1998 12:23:00 PM
From: E_K_S  Read Replies (1) of 42771
 
Novell Inc. (NOVL) (Reuters 08:29 AM ET 06/05/98)

NOVELL INC said that its board of directors has authorized the company to repurchase up to 10%, or about 35 million shares, of Novell common stock over the next twelve months. Novell said it plans to buy shares on the open market from time to time, depending on market conditions. The repurchases will be funded from Novell cash and short-term investments that totaled $1.08 billion, as of April 30, 1998. Novell, which has about 353 million shares outstanding, said the repurchased shares will be retired and canceled. During its 1996 fiscal year, under a previous board repurchase authorization, the company spent $456 million to repurchase and retire 33 million shares of Novell common stock.

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Now is Schmidt makes a token purchase, I think the street would take notice.

EKS
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