WhatTheyThink

HP Announces Resumption of $1.8 Billion Share Repurchases

Press release from the issuing company

PALO ALTO, Calif.--Sept. 17, 2001-- Hewlett-Packard Company today announced that it has resumed its normal stock repurchase activities. The company has authorization of approximately $1.8 billion available for the repurchase of shares as part of the company's share repurchase programs. These programs had been suspended during the negotiation of the HP and Compaq Computer Corp. merger agreement, which was announced on Sept. 4. "We have enormous confidence in the underlying strength of the U.S. economy and the long-term health of the technology sector,'' said Carly Fiorina, chairman and chief executive offer. "We're also confident in the power of the HP/Compaq combination and the value it will create for shareowners, customers, partners and employees. Therefore, at current price levels, we believe HP's stock represents a compelling investment opportunity for the company.''