SCIENCE/TECHNOLOGY

Stock Buyback: Emulex Corp. said its directors have authorized the repurchase of 19% of the company’s stock, or about 2 million shares.

The purchase is part of an ongoing stock buyback program under which the Costa Mesa computer company has purchased 4 million shares since May, 1987.

Emulex’s stock has been trading recently between $5.50 and $6 per share. At those prices, the repurchase program would cost the company between $11 million and $12 million.

“Our board felt the stock would be a very good investment for the company,” said JoAnne Martz, director of investor relations.