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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?


To: J Gunn who wrote (1619)9/1/1999 5:29:00 PM
From: M. Frank Greiffenstein  Read Replies (1) | Respond to of 15615
 
Manipulation??

Since when is it manipulation to buy back your own stock?? It may be manipulation if your AUTHORIZE a buyback then only purchase a few piddling shares.

Anyway, sorry for my pronouncement yesterday that there was little downside risk. If its any consolation, I believed my own words and got whacked today.

DocStone
HumbledInDetroit



To: J Gunn who wrote (1619)9/1/1999 5:42:00 PM
From: CF Rebel  Read Replies (1) | Respond to of 15615
 
"I thought they were going to use the money to build a fiber infrastructure."

All of GBLX's fiber is fully funded. I think you'd agree that retiring stock at these prices would be a no-brainer. The float is going to be much larger with FRO on-board.

CF Rebel



To: J Gunn who wrote (1619)9/1/1999 9:12:00 PM
From: DlphcOracl  Read Replies (2) | Respond to of 15615
 
J Gunn: Regarding GBLX stock buyback, this is not a negative. The stock is very oversold because of the uncertainty with the Frontier. Buying back shares at bargain prices ALWAYS makes good sense and enhances the value of the shares by reducing the float. The great companies (GE, IBM, in particular) try to buy back shares on dips for just this reason.