Newport News OKs Share Buyback Program

Newport News Shipbuilding Inc. has approved a $100 million share repurchase program, adding to a $100 million buyback plan authorized last June. The new plan will be implemented over 2000 and 2001. The company has bought back almost 3 million shares under the previous program. The company currently has nearly 33 million shares outstanding, according to Standard & Poor's MarketScope.