AT&T (T) continues its strategy of boosting near-term EPS by making huge stock buybacks and keeping capex down. Ma Bell just added 300M shares (5.2% of outstanding shares) to its stock buyback program. The company repurchased 75.8M shares in Q2, and 67.7M in Q1 - those purchases were a big reason why AT&T beat Q2 EPS estimates in spite of a revenue miss. T +1.2% AH
OCZ Technology (OCZ +30.2%) +15.7% AH to $8.19, adding to the big gains it saw today on reports Seagate (STX) is planning to buy the company at a price near $15/share. The question speculators are fighting over: is Seagate actually desperate enough to improve its solid-state drive (SSD) position (necessary given the long-term threat posed by SSDs) that it would pay a ~50% premium relative to OCZ's all-time high, in spite of many alternatives? STEC gained 6.9% on the day.
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