Hewlett-Packard plans further $8 bln share buyback

HP said its board of directors approved an additional $8 billion to buy back company shares.

During its fiscal first quarter ended Jan. 31, the company already bought back some $2.3 billion worth of its shares and had an additional $3.3 billion of authorized funds remaining for future buybacks.

HP said the buyback would help offset dilution created by shares from employee stock option plans and return cash to stockholders, according to a filing with the U.S. Securities and Exchange Commission...