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Microsoft to Relaunch Buyback

August 08, 2000|Reuters and Bloomberg News

Microsoft Corp. said it will restart its share-buyback program, a move cheered by analysts, who had expected the software giant to take that step weeks ago. The number of shares to be purchased in its fiscal year that started July 1 will depend mainly on the level of stock options exercised by employees. Microsoft has about 5.5 billion shares outstanding.

In other news, a U.S. judge tentatively concluded that Microsoft falsely advertised that its version of Sun Microsystems Inc.'s Java computer language for the Windows operating system meets Sun's standards. U.S. District Judge Ronald Whyte also said Sun isn't entitled to an injunction over Microsoft's past acts--unless Sun can show they are likely to reoccur. The judge reached his decision on July 24. No trial date has been set. Shares of Microsoft, based in Redmond, Wash., rose 88 cents to $70 on the Nasdaq Stock Market. Shares of Sun, based in Palo Alto, rose $5.13 to a record $111.75 on the Nasdaq Stock Market.

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