Today’s Stock Buybacks (Aug. 24, 2007) (RKT, TSRA, HPOL, BKC)
August 24, 2007 by Douglas A. McIntyreThese are not all of the buybacks and you can see how there were many more buybacks announced yesterday. But here are some of the buybacks from today and this morning:
Rock-Tenn Company (NYSE:RKT) approved an amendment to the Company’s stock repurchase program to increase the buyback plan by 2.0 million shares, bringing the total number of shares remaining authorized for repurchase to 2,461,932 shares. The repurchases may be made in open market or private transactions. The Company intends to finance any repurchases with cash generated from operations and borrowings under its revolving credit facility. The company said that since June 30, 2007, the Company has repurchased approximately 1.6 million shares of Common Stock at an average price of $27.12, representing a repurchase of approximately 3.9% of the Company’s outstanding shares as of that date.
Tessera Technologies, Inc. (Nasdaq:TSRA) has authorized a program to repurchase up to $100 million of common stock.
ONGOING….
Harris Interactive® (NASDAQ:HPOL) , after its earnings announcement made an update: During Q4FY07, the Company repurchased 1.8 million shares for $9.8 million, or $5.47/share. For the full fiscal year, the Company spent $50.5 million to repurchase 10.3 million shares of common stock, for an average basis price of $5.52/share. Approximately $23 million remains in the current share repurchase authorization, which is effective until December 31, 2007.
Burger King (NYSE:BKC) also said with its earnings this morning that it had paid down dent rather than use cash for its $100 million stock buyback plan.
Jon C. Ogg
August 24, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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