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CSCO Announces $10B in Share Buybacks

By Market News Video Staff, Friday, November 19, 9:25 AM ET

Cisco (NASDAQ:CSCO) has announced an additional $10 billion in new buybacks as part of its ongoing stock repurchase plan. The company had previously authorized $72 billion in buybacks, and from September 2001 through October 30 of this year, Cisco has bought back $67.5 million in stock. There is no fixed termination date for the program, which now has $14.5 billion in buyback authorization remaining.

Cisco shares are trading higher in the pre-market Friday.

CSCO is the fourth-largest holding, at 9.64%, in the Internet Architecture HOLDRS (IAH). IBM (NYSE:IBM) is the top stock in the fund, at 34.85% of the portfolio, followed by Apple (NASDAQ:AAPL) at 22.90% and Hewlett-Packard (NYSE:HPQ) accounts for another 17.32% of the fund.


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This Article's Word Cloud:   CHANNEL   CSCO   Cisco   Friday   HOLDRS   Internet   Investment   NASDAQ   NYSE   October   PORTFOLIO   Packard   Portfolio   allows   asset   back   billion   bonds   bought   buybacks   classes   company   complete   completely   countries   designed   fixed   followed   fourth   fund   growth   higher   leads   market   million   ongoing   portfolio   previously   program   remaining   repurchase   shares   short   stock   stocks   termination   terms   this   through   year
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