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Technology Stocks : CheckFree (CKFR)

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To: TLindt who wrote (7384)	9/9/1998 12:49:00 PM
From: Robert Gintel	Read Replies (2) of 8545

<<.they ought to had this in place at $8....don't you think? >> What did you think we were doing in Florida, just fishing? The buyback announcement was an official Checkfree news release taken off the PR newswire today. The Dow Jones News Service eventually will get around to publishing it, as will the other news wires. Check the Checkfree Web site? The 104,000 share block was a misprint and was deleted. It was 10,400 shares. I think the news is very good for the company and it's shareholders. It sends a powerful message that management thinks the stock is cheaply priced in the market. It acts to prevent further dilution from the future exercise of warrants and stock options, and it absorbs selling pressure from such weak holders of the company's stock, as we have seen in recent trading sessions. Over time it should become accretive to per share earnings, as well. With $70 million in cash and no debt, what better use is there of excess corporate funds than to buy in shares for the treasury at prices that are well below the franchise value of the company's assets

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