EA Buys Back Shares
Company moves to pull more shares back under its umbrella.
Electronic Arts announced Friday that its board of directors has authorized the repurchase of up to two million shares of its common stock on the open market.
EA says the decision was "prompted by the company's strong cash position and the current price of Electronic Arts stock" (US$41.0625 at the end of trading yesterday on the NASDAQ exchange). EA has 61,180,007 shares of common stock outstanding.
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