>>>>Curious to see how this plays out. No market reaction.<<<<
Curious timing of the announcement. Why not announce immediately following the BOD meeting?
The CFO confirmed the plan during the CC on Thursday. But only in response to a question.
According to the last SEC Form 10-k, there were 62 million shares under stock option of which 47 million were exercisable. Thus the amount that can be purchased at the current market price is insignificant in comparison to the addtitional shares that could be issued.
It is a waste of funds to repurchase shares absent the ability to increase revenues and thus earnings. The stock price will only rise when management can prove it is on a steady course to increase revenues. Repurchasing shares will only have a temporary impact, if any.
Not really. It just seems that over the past few years this company has done everything to try to increase its shareholder value - layoffs, downsizing, management changes, restructure sales, shakeup management, buy companies, other repurchase announcements, ceo buying a ton of shares, announcements regarding finding ceo replacement and it goes on and on.
The market is seeing through all of this - increasing revenues is the only thing left to do that they haven't done.