Two more Orange County companies joined the ranks of post-crash bargain hunters Wednesday, announcing plans to buy back large amounts of their common stock at what they consider fire-sale prices.
Anaheim-based Carl Karcher Enterprises announced that its board of directors had unanimously approved a program to repurchase 400,000 shares for up to $5.6 million.
Donald Karcher, company president and chief operating officer, said in a statement that the decision was made "because we believe that the company's common stock purchase presents an attractive investment opportunity at current prices."
Karcher stock closed Wednesday at $14.375, up $2.375 for the day.
Irvine-based Fidelity National Financial, an insurance company with offices in 29 states, said its board of directors has authorized buying as many as 200,000 shares of common stock in the open market or through private purchases.