Swiss computer accessory company Logitech International SA said its board approved the repurchase of up to $250 million of its stock. The buyback is subject to Swiss Takeover Board approval, the company said late Tuesday. Logitech will start the new buyback when it completes its existing $250 million repurchase program. As of Sept. 5, the company had bought back about 3.9 million shares for $111 million under the current program. The stock trades for 10x cash flow.

NetEase.com Inc., the China-based Internet and online games service provider, said Friday its board approved the repurchase of up to $100 million of its U.S.-listed shares over the next year. The company recently completed buying $46.4 million in shares under a program started in July 2007. A company typically buys its own shares when it thinks the market is undervaluing the stock. The stock trades for 8x cash flow.

Atlas America Inc. said Tuesday that its board authorized the natural gas company to repurchase up to $50 million in common stock. The Philadelphia-based company has about 40 million shares of common stock outstanding. Under a separately authorized buyback program, Atlas repurchased about 2.1 million shares on a split-adjusted basis for $50 million.

Swiss eye care products maker Alcon Inc. said Tuesday it plans to buy back up to 1 million shares from investors before the end of the year. About 70 million, or 23 percent, of Alcon's 300 million outstanding shares are publicly traded. The company said it would use the proceeds to pay employee compensation plans. Earlier this year Alcon suspended share repurchasing after Swiss pharmaceutical maker Novartis purchased a 25 percent stake in the company from its parent Nestle SA. Currently, Nestle holds a 52 percent stake in Alcon.

The Chicago-based utility giant announced that it will repurchase up to $1.5 billion in common stock over the next six months. The exact timing of the repurchases will depend on market conditions. "We have an increasingly strong cash flow profile and balance sheet, which allow us to pursue new growth opportunities and return value to our shareholders, such as through this stock buyback," said John W. Rowe, Exelon's chairman, president and CEO. "We are extremely well positioned in this uncertain market and economy, as our compelling market position supports strong long-term growth and further value creation." In the same press release the company tightened its 2008 earnings outlook. The company now expects full-year results of $4.15 to $4.30 a share, versus a previous forecast of $4.00 to $4.40 a share. The majority of analysts are expecting the Exelon to earn $4.35 a share. Exelon reported second-quarter earnings on July 23, 2008 with a profit of $748 million, or $1.13 a share, compared with $702 million, or $1.03 a share, earned in the same period last year. The company credited the quarterly gain to higher energy margins from increased nuclear output. Profitable proprietary trading also fueled the strong quarter. Analyst Paul B. Fremont from Jefferies & Co. upgraded EXC to buy from hold noting that the stock price is at a discount compared to gas price assumptions. He lowered his price target on the stock to $83 from $90 to reflect a decrease in forward gas priced. However, the new price target still represents a 29% gain from Wednesday’s close.

The Stamford, Conn.-based underwriter of reinsurance added $200 million to its buyback program. This brings the total authorization amount up to $600 million. The repurchases will be made from time to time pending on market condition until the expiration date of December 31, 2009. Since the programs inception through September 1, 2008, the company has repurchased 9.68 million shares worth $354.4 million. On July 31, 2008 the company reported dismal second quarter results. Net income came in at $65.2 million, or $1.00 a share, compared with $145.5 million, or $2.02 a share earned in the same period last year. One positive note from the earnings announcement was that the board approved a 20% increase in the quarterly dividend. Seventy-five cents a share will be paid to shareholders on September 26, 2008. Despite near-term weakness, an analyst from Wachovia Capital Markets has an outperform rating on the stock. Susan Spivak recommends buying the stock because it has strong projected book value growth and ORH’s diversified business mix reduces catastrophe exposure while providing stability in earnings. Susan was pleased to see the aggressive share repurchases and increased dividend. Odyssey has repurchased over 9% of their total outstanding common stock since the beginning of the year. She believes ORH, which is up 7% on the year, should be trading in the $45 to $47 range.

The company announced that its board approved the repurchase of up to $250 million in common stock over the next two years. They have approximately 54.2 million shares outstanding. Based out of San Diego, this company makes diagnostic products used to detect various infections and diseases. As of June 30, 2008, the company had $499.2 million in cash and equivalents and no debt. “Based on our healthy balance sheet and strong operating cash flows, we believe we can increase long-term shareholder value and offset dilution from employee stock programs by buying back stock,” said Herm Rosenman, Gen-Probe's senior vice president and CFO. On July 31, 2008 the company reported pretty solid second-quarter results with product sales jumping 21% to $113.7 million from $93.9 million in the same period last year. Total revenue surged to $119.8 million from $101.3 million, an increase of 18%. They earned a profit of $24.8 million, or 45 cents a share, compared with $27 million, or 50 cents a share in the year-ago period. The lower net income can be attributed to an unusually low tax rate in the prior year period. The company forecasts full-year EPS of $1.83 to $1.87 a share and total revenue between $467 million and $472 million. Cowen and Company issued a bullish report on GPRO noting the FDA approval of their supplemental BLA for the Ultrio screening claim. They said that US Ultrio represents one of the most important growth drivers for GPRO in the 2009-2010 timeframe. They reiterated their outperform rating on the stock.

The Pittsburgh-based coal producer announced a new share repurchase program worth up to $500 million in common stock. The buybacks will be made from time to time up until its expiration date on September 9, 2010. The coal miner reported a drop in second-quarter earnings on July 31, 2008. Net income dropped to $101 million, or 54 cents a share, from $153 million, or 83 cents a share, in the year-ago period. On the bright side, net cash from operations jumped 19.5% to $323.9 million, from $271.1 million last year. Total revenue was better by more than 14% as coal sales increased by 19% and natural gas sales surged 58%. Consol produces over 70 million tons of coal annually. “Higher energy prices were the key factor in the second quarter's results,” said J. Brett Harvey, president and CEO. "Gas prices period- to-period rose 24%, while coal prices period-to-period rose 15%, allowing us to generate solid cash flows and higher revenues. Despite mixed economic news in recent months, global energy demand still favors this higher pricing environment for the foreseeable future." We like to see that Jefferies & Company initiated coverage on Consol with a buy rating. Analyst Michael Dudas commented, “Consol Energy, the largest underground and Eastern coal producer, also controls coalbed methane and bulk transportation assets. As the largest producer and exporter of coals in Northern Appalachia, with a sizable majority position in the basin, the company tends to dictate regional market fundamentals.” He rewarded the stock with a $90-dollar price target, representing 70% upside potential from Tuesday’s closing price of $52.68.