Tellabs (TLAB +4.8%) is rallying after announcing it will start buying back shares again,...

|By:, SA News Editor

Tellabs (TLAB +4.8%) is rallying after announcing it will start buying back shares again, leveraging $224.6M left in a program authorized back in Nov. '07. The optical networking vendor, which has been hit hard by poor industry capex and a dropoff in legacy hardware sales, will finance the purchases with its $942M cash/investment balance. (PR)