Hewlett-Packard Expands Buyback Program

Hewlett-Packard Co. added $1 billion to its stock buyback program, as its shares have fallen 11 percent in the last month.

The No. 2 computer maker after International Business Machines Corp. said about $500 million remains under an earlier buyback authorization, bringing the total amount it could repurchase to $1.5 billion.

At Thursday’s closing price, Hewlett-Packard could buy about 15.9 million shares, or 1.53 percent of its shares outstanding, under the addition to the buyback program. As of Oct. 31, the company had 1.04 billion shares outstanding.