Oracle Boosts Buyback by $4B

The company is now clear to buy back $4.7 billion in shares.
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Oracle's (ORCL) - Get Report board hasauthorized the repurchase of up to an additional $4 billion of commonstock under its share repurchase plan.

Oracle said late Thursday that it now has an authorization to buy back about $4.7 billion in stock.

"The repurchase plan is designed to return cash tostockholders and offset the effects of share issuances under Oracle's stockoption and employee stock purchase plans," the company said in a press release.

Shares of Oracle closed Thursday up 17 cents to $18.87.