Amazon Leads Gains In Morning Trade
Amazon.com announced before the opening bell that the board of directors has approved the repurchase of $1 billion in common shares over the next two years, according to MarketWatch. This will replace the $500 million buyback deal authorized last May. The firm will also repurchase $1.1 billion in outstanding debt.
The Nasdaq Composite Index was up 03% at 2,300 with the Morgan Stanley High Tech 35 Index up 05%. The morning trades opened to losses, but McAfee was up over 8%, while Activision was up 1.5% from its recent quarterly report.
Microsoft was up 2.3% after the initial fall after the bid for Yahoo last week. Google went up about 2% and Yahoo went down fractionally.
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