Finally, 10 Billion Cheers for Dell (DELL)

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By Douglas A. McIntyre Published

Shares of Dell Inc. (NASDAQ:DELL) are trading up in pre-market trading on the company’s announcement that it is FINALLY able to resume its share buyback plan.  Dell announced that it has authorized a stock buyback plan for up to $10 Billion.  More importantly, the company said IT WILL RESUME THE SHARE REPURCHASE PROGRAM THIS WEEK.

Also at the shareholder meeting, the company is electing 11 members to its board of directors: Donald J. Carty, Michael S. Dell, William H. Gray III, Sallie L. Krawcheck, Alan (A.G.) Lafley, Judy C. Lewent, Thomas W. Luce III, Klaus S. Luft, Alex J. Mandl, Michael A. Miles and Sam Nunn.

24/7 Wall St. has been expecting this buyback announcement for some time.  The company had to previously suspend its repurchase activities when it was a delinquent filer and during its financial review.  This is at the higher-end of the range of a buyback dollar amount we were expecting.

Dell has already seen almost 1 million shares trade hands in pre-market trading and shares are up close to 2.5% at $24.53.  The 52-week trading range is $21.61 to $30.77.

Jon C. Ogg
December 4, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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