Compaq to Buy Back Shares: Compaq Computer...
From Times Staff and Wire Reports
Compaq to Buy Back Shares: Compaq Computer Corp., suffering from blows to its stock price, announced that its board has authorized the company to repurchase up to 10 million shares of its common stock on the open market. Wednesday’s news of disappointing earnings sent Compaq’s shares down $13.25 to close at $36 a share--off 27%. Compaq said its stock is “undervalued at its current price.” The stock recovered a bit Thursday to $36.50. Its high for the year was $74.25.
