Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

STX 237.60

-1.2%

Nov 21 9:30 AM EST

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To: Stitch who wrote (515)	2/16/1999 10:43:00 AM
From: Duker	Read Replies (1) of 1989

Seagate Technology Board Approves Added $500M Buyback SCOTTS VALLEY, Calif. (Dow Jones)--Seagate Technology Inc. (SEG) said its board approved the repurchase of an additional $500 million worth of company shares under its existing stock repurchase program. In a press release Tuesday, the data storage device company said it will buy back the shares from time to time in the open market, depending on market conditions, share price and other factors. As of Feb. 15, Seagate had repurchased nearly 15.3 million common shares for $514 million under its existing $600 million authorization, of which it repurchased more than 12 million shares during the current fiscal year for about $426 million. As of Jan. 31, Seagate had 245,251,000 common shares outstanding. The company's stock closed Friday at 34 5/16 on the NYSE and is up 1 1/16 Tuesday morning to 35 3/8

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