That means they could decide to do no buyback at all.
They will buy back somewhere between $0 and $5 Billion.
This is an act of desperation to heard the lemmings into the barn.
All b.s*** all the buybacks do is allow the company to rearm options for management, and mitigate the increase in shares and dilute earnings. Stop the options or at least make the duration 2-3 years. What shareholder is going to stay around for 10 years these days? Institute a dividend and at least give back some to shareholders so it might go into the economy. I don't mind spending dividends, but I don't like spending capital from shares that were bought from me.
while its good to ask questions, the fact is they have been buyin' and will continue to buy as long as they believe the stock is undervalued....remember, they buy based on inside info.
I doubt they believe the stock should be any less than $20...if they spent the entire 7+B on stock at 15/share, that would take out about 20% of the outstanding and it still would not get to 20 on that action alone....so they will buy, you can bet on it.