Cisco To Buyback Additional $7 Billion In Stock

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Cisco OK's $7 Billion Share Buyback [AP]

Summary: Cisco Systems' board approved the repurchase of $7 billion in company stock, the latest stage in a five-year program that has already bought back $36.9 billion in stock. Cisco's board had previously authorized $40 billion in buybacks; the latest approval is on top of that. The company's market cap is currently $161.47 billion.
Related links: Cisco press release • Commentary: Cisco's Scorched Earth Policy Claims Another Victim • Cisco: Catalysts That Make it a Buy • Cisco Reports A Blowout Quarter • Conference call transcripts: Cisco F1Q07 (Qtr End 10/28/06) Earnings Call Transcript
Potentially impacted stocks and ETFs: Cisco Systems (CSCO) • ETFs: iShares Networking (IGN)

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