Amid stellar financial results but poor trading of its shares, Motorola said it would spend $1.2 billion to buy back its stock almost two years ahead of schedule under an existing $4 billion share repurchase plan. The company also authorized a new $4.5 billion repurchase plan good for the next three years. Motorola said its stock is "an attractive investment" at current levels and the recent buybacks highlight its confidence in long-term growth. Motorola last week reported solid results primarily because of the success of the RAZR, but investors keep waiting for the RAZR train to run out of steam.
For more about Motorola's buyback program:
- read this report from AP