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Technology Stocks : Compaq
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To: rupert1 who wrote (54377)3/22/1999 12:37:00 PM
From: rudedog  Read Replies (2) of 97611
 
Victor -
Given that CPQ has authorized enough to cover about $600M additional buyback, or 20M shares, they could get some shares back and also improve the price a little, although probably not much. This would, of course, not affect the P&L but would affect cash position. They could decide to wait until a little closer to innovate before buying, which would have the dual benefit of moving the transaction into 2Q, and also making it more likely that any effects would still be visible both at innovate and at the shareholders meeting a week later. This kind of activity is entirely legitimate.

I am certain that they did nothing intentionally to depress share price for the reasons you state. I have no idea if this kind of thinking motivates them at the moment but it does not seem unreasonable.
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