INTC borrowed 6 billion to buy back shares on top of the billions they had already authorized. During the last week we have be down every day and the dow has been up every day. INTC is down 2/share and the dow is up over 200. They borrowed 6 billion and are paying interest on it to buy back shares. If they were anything but incompetent, they would have had the 3rd party doing the buyback, step up the share purchases. The 6 billion buyback could have bought all the shares traded last week and had plenty to spare. While they have limits as to how much they can buy every day, we wouldn't have been down this last week.
I would let the price keep dropping down so that i make the buyback as profitable as possible. But what do i know. The buyback was not enacted to just artificially keep the price up. If the company has no news and thinks the price will keep dropping then they should hold buying off for a while. They will know best when it is time to start buying, They know when breaking news is comimg and when it is not. Relax.
Intel-Motorola Mobility deal approved by CCI
New Delhi, Jan 24:
The Competition Commission of India (CCI) has given its approval to global chip maker Intel’s proposed acquisition of Motorola Mobility’s certain assets including patents, saying the combination would not have any direct impact on competition in India.
As per the deal Intel would acquire certain assets of Motorola Mobility such as non-Indian intellectual property rights, including patents and patent applications. The chip maker would also buy tangible assets of the company located in the US besides getting the rights to hire some American employees of Motorola Mobility, among others.
“... the market for cellular base-band processors is competitive on account of presence of major players including Qualcomm, MediaTek, Texas Instruments and Broadcom,” the CCI said in its order dated January 22.
Motorola Mobility subsidiaries in India are Motorola Mobility India and Motorola Mobility Chennai.
The regulator said the assets of Motorola Mobility which are being acquired by Intel do not presently generate any revenue in India.
As per the order, Intel is a recent entrant into the production of components for wireless hand held devices including cellular base-band processors.
The company has various subsidiaries in India including Intel Technology India, Intel Mobile Communications India and McAfee Software.
Intel and Motorola Mobility had reached ‘Asset Purchase Agreement’ in December, 2012, following which they approached CCI for approval.
In a rough order, I would tell them to accelerate the 6 bilion buyback in compliance with the law. I would also add that any undue sales of stock or shorting be met with an increase in purchases. I may also add that they buy a max of 5mm shares per day or a .25/share increase - wich ever comes first.