Companies Buy Back Stock in Slump

Fluor, Softbank and Huntsman all plan to repurchase shares.

Fluor Corp., Softbank Corp. and Huntsman Corp. are buying back shares to take advantage of a worldwide market slump they say has made their stocks too cheap.

“We’re in the markets starting today buying back shares,”D. Michael Steuert, chief financial officer of Irving, Texas-based Fluor, said on a conference call today. “At these price levels, we think the company is tremendously undervalued.”

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