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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (13307)6/16/1999 8:27:00 AM
From: Peter S.  Read Replies (2) | Respond to of 16960
 
Board to buy back stock:

biz.yahoo.com

"SAN JOSE, Calif., June 16 /PRNewswire/ -- 3dfx Interactive® Inc. (Nasdaq: TDFX - news) today announced that it has been authorized by its Board of Directors to institute a stock repurchase program whereby up to 2 million shares of its Common Stock may be repurchased in the open market from time to time.

''Our Board of Directors felt that an investment in our own stock would be beneficial to the Company and its stockholders,'' said Greg Ballard, president and CEO of 3dfx Interactive. The repurchases will reduce the long-term potential dilution that might result from issuances under the Company's stock benefit plans."

That's about the entire PR.

Peter S



To: Sun Tzu who wrote (13307)6/16/1999 9:09:00 AM
From: Patrick Grinsell  Read Replies (1) | Respond to of 16960
 
Is possible that they were only arbitraging the STBI/TDFX pair?

Nope. If that were the case they'd be short 65 shares of 3dfx for every 100 STB shares long.

Pat


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