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Altera (ALTR – 33-3/8) manufactures specialized equipment for the semiconductor industry. Last night following the close, the company reported third-quarter earnings of 43 cents per share, equaling analysts' estimates. The firm also noted that quarterly sales climbed 16 percent compared to the second quarter of 2000.
Later on yesterday evening, ALTR announced plans to double the number of shares it will repurchase under its stock buyback program. The company now has its sights set on repurchasing 48 million shares, up from the previously announced 24 million shares.
On the options front today, the October 35 call leads the way, with 573 contracts trading. These could be liquidations, as this call, which is currently home to 3,051 open positions, expires on Friday.
ALTR has risen over one percent today but is still trading near a 10-month low beneath all of its significant moving averages.