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.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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