CheckFree Gives Buyback Nod

The board of directors of electronic-payment services company CheckFree(CKFR Quote - Cramer on CKFR - Stock Picks) has approved the buyback of up to $100 million in shares of its common stock through Aug. 1, 2007, the company said.

In late October, the company beat Wall Street estimates for its first-quarter earnings, but sales were shy of expectations.

Shares of Georgia-based CheckFree closed Monday's regular session up 12 cents to $38.76; after hours they rose 22 cents.