Wednesday, September 22, 2010

"Power-One Sets 10M Shr Buyback" Stock up 6% (PWER)

The stock is trading at $9.23 up 5.97%.
Cash flow baby!
We are fans.
From Tech Trader Daily:
Power-One (PWER) late Tuesday said its board has approved a 10 million share stock repurchase program, which is about 6% of the solar inverter company’s 160 million shares out....MORE

Here's the press release via MarketWatch.

Solar: SMA Warns on Margins, Power-One Spanked (PWER)
The stock closed down 13.35% at $9.67. In early after-hours action it has only regained seven pennies....
Power-One to invest $10 million in Arizon Manufacturing/R&D Facility (PWER)
"Best in Class: Power-One Poised to Invert Solar Stocks" (PWER)

The stock is up 46 cents (4.26%) at $11.21.
I like the phrase "Best in Class".
Companies that earn the moniker usually return a bit less than the riskier stuff (I can't find them this second but there have been a few academic papers that make the point) but allow you to sleep the sleep of the innocent....
After the Crash of '87:
"I slept like a baby"
"Woke up every hour and cried"