Cameron boosts buyback by $500M

|About: Cameron International Co... (CAM)|By:, SA News Editor

The company has repurchased 12.8M shares so far this year at a total cost of $780M.

Cameron (CAM +1.1%) also gets into the commercial paper market for the first time, with the program authorized up to a maximum $500M.

"The Company ... intends to aggressively repurchase shares when market conditions and other factors permit. The commercial paper program will allow us to more efficiently borrow in the market when necessary."