Polycom announces new $200M share repurchase authorization Polycom announced that its board approved a new share repurchase authorization of up to $200M in share repurchases. In addition, the company stated that it has completed its previously announced $400M return of capital program. The company expects to fund the share repurchases through cash on hand and future cash flow from operations. The company expects to execute the new share repurchase program over the next two years.
Polycom downgraded to Underperform from Market Perform at William Blair William Blair downgraded Polycom to Underperform saying its field-level discussions indicated the company's business has come under "increasing pressure" in the June quarter. Polycom is being hurt by weak video demand and increased competition, William Blair tells investors.