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

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)
Comments (1)
  • Nasir Khan
    , contributor
    Comments (148) | Send Message
     
    Very good plan. At current stock price it makes sense to start buying back the stock. And Tellabs has a huge hoard of cash to do that. The cash is way above their requirements and they can also easily finance some decent acquisitions. For me Tellab is a strong buy at current price levels i.e. below 3 dollar a share.
    21 Nov 2012, 06:08 AM Reply Like
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