CKE Restaurants Inc.: The Anaheim firm’s board...

CKE Restaurants Inc.: The Anaheim firm’s board of directors has authorized the repurchase of as many as 2 million shares of the company’s common stock.

The repurchase will be made through occasional open-market transactions. CKE Restaurants, parent company of the Carl’s Jr. fast-food chain, has about 18.7 million shares outstanding.

The company thinks its shares “are presently undervalued and represent a solid investment opportunity,” said Donald E. Doyle, CKE’s president and chief executive officer.