Compuware boosts buyback plan by $200M |
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Wed, 29 Aug 2007 17:18
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DETROIT (AP) - Software developer Compuware Corp. said Wednesday its board of directors approved the repurchase of an additional $200 million in shares to an existing stock buyback program.The program was originally for $300 million, of which the company has repurchased $275 million.Earlier this month, the company said it will not take on debt to fund additional stock buyback activity because of worsening credit markets.Shares of Compuware rose 33 cents, or 4.4 percent, to $7.80 in midday trading. The stock has traded between $7.30 and $12.56 in the last 52 weeks.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Compuware curbing buyback activity 