0.31%QQQQ 43.45 
0.48%XLF 21.74 3.62%
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LOS ANGELES - California Pizza Kitchen Inc. said Wednesday its board of directors approved a stock buyback program for $50 million in common stock over the next two years.
| CPKI | 14.15 |  -0.01 |
The authorization follows three similar programs over the last four years, the company said. The latest buyback program was completed on June 19.
Since August of 2004, the company repurchased about 6.2 million shares of common stock for about $98.5 million, California Pizza Kitchen said.
Shares of California Pizza Kitchen rose 82 cents, or 7.3 percent, to $12 in after-hours trading after falling 68 cents, or 5.7 percent, to close at $11.18.
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