Nvidia down 35% today

[flapjack]

Well it looks like it is a lot cheaper to buy back stock these days. Makes you wonder if they were getting all of their skeletons out this quarter in anticipation of this.

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Associated Press
Nvidia Board Approves Stock Buyback
Monday August 9, 7:14 pm ET
Graphics Processor Maker Nvidia to Buy Back Up to $300 Million Worth of Stock


SANTA CLARA, Calif. (AP) -- Nvidia Corp., a maker of graphics processors, said Monday that its board approved a repurchase program of up to $300 million worth of common stock.
The company said it hopes the repurchase will offset dilution from employee stock plans.

As of June 30, Nvidia had over $600 million in cash, cash equivalents and marketable securities.

Shares closed earlier up 42 cents, or 4.4 percent, at $9.85 on the Nasdaq Stock Market. In after-hours trading, Nvidia stock rose an additional 40 cents recently.
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[flapjack]

Nvidia hit $18.77 yesterday. The stock doubled since August. The guy (or gal) who initiated the stock buyback made the company a quick $300MM. Makes you wonder. Hmmmmmm

[JimmyTango Profile]

Originally posted by Mr. Slayer
I think ATI needs to work on their software support for their hardware products. They aren't too good with driver support that's for sure.

Really? They are constantly releasing new drivers. The days of their drivers lacking ended with the release of the 9700Pro.