On March 16, computer business Hewlett-Packard announced that its board of directors had finalized plans to spend $8 billion to try to recover some of the company’s shares.  

HP stated that the computer business’ re-purchase of these stocks would help make up for some shares from employee stock options and get cash returned to stock owners.  This announcement was confirmed by a filing with the U.S. Securities and Exchange Commission.

The first quarter that was over on January 31, 2007 saw computer business HP buying back $2.3 billion of its shares, leaving $3.3 billion of funds available for future stock re-purchases.   

This latest stock purchase was unearthed at an annual computer business meeting last Wednesday.  Shareholders rejected a proposal giving investors the power to nominate board members of the computer business.  

Added By:  Computer Consulting 101 Professional Kit