Perficient announces $10 million stock buyback
Perficient Inc., an Austin-based technology consulting firm, announced a $10 million stock buyback program.
The repurchase program runs through 2009.
"We believe our stock is undervalued at these levels and that a buyback is a smart investment for the company," chief executive and Chairman Jack McDonald said in a statement.
Perficient shares closed Thursday at $7.98, up 8 percent.
In the past year, the stock has traded between $6.43 and $25.19 a share.
SEMICONDUCTORS
AMD launches seven new desktop processors
Advanced Micro Devices Inc. began selling seven new desktop processors, stepping up competition with industry leader Intel Corp.
The products include faster versions of AMD's Phenom chips as well as a new low-power processor and the first product with three processors, or cores, built into one piece of silicon, said Patrick Moorhead, AMD's vice president of marketing.
Delays in releasing products have forced AMD to sell its chips at a discount, contributing to five consecutive quarterly losses. The latest processors show that the company is back to delivering on schedule, Moorhead said.
The most advanced Phenom processor has four cores running at 2.5 gigahertz, or billion cycles per second. That replaces a 2.3-gigahertz chip. Intel has similar quad-core chips for desktop computers that run as fast as 3.2 megahertz.
AMD is concentrating on supplying chips priced at $200 or less, which are suited to PCs sought by the majority of computer buyers, Moorhead said.
The company's new triple-core processors offer an option between quad-core chips and products with one or two cores, which run the majority of PCs.
