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[News] [Rival] Microsoft Buybacks and Debt Can't Save It

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Buybacks take a beating

,----[ Quote ]
| Last month, Microsoft announced it was going to spend $40 billion buying back 
| its own stock. Traditionally, that would have meant a payday for its 
| investors. With Microsoft using its own spare cash to reduce the number of 
| outstanding shares, earnings per share should have improved, and the stock 
| price should have ticked upwards.    



Microsoft: The Giant Buyback Theory Resurfaces

,----[ Quote ]
| Bloomberg published a story today which said that the company is about to
| unveil a plan to buy back as much as $20 billion of its stock. The notion was
| attributed to UBS analyst Heather Bellini, who actually floated the idea in a
| July 25 analyst report. And she is not the only one who thinks a huge buyback
| would be a good idea: in a July 22 post, I noted a report from Friedman
| Billings Ramsey analyst David Hilal, who theorized that the company could do
| a leverage buyback and repurchase as much as $50 billion of its shares.


Microsoft to buy $20B shares: UBS

,----[ Quote ]
| Microsoft's share price is down 26 per cent so far this year. It has about $3
| billion remaining of a $36.2-billion, five-year repurchase program it started
| in 2006.


Data: Cash balances at large tech companies

,----[ Quote ]
| PictureMicrosoft has reduced its legendary cash balance by tens of billions
| of dollars in recent years through a series of buybacks, dividends and
| acquisitions. The importance of cash was evident in the Microsoft-Yahoo saga:
| Had the Redmond company succeeded in the proposed $44.6 billion acquisition,
| it would have needed to borrow money for the first time in its history to
| fund the deal.


Microsoft sees slide in profits

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