Teledyne to buy back shares

Teledyne Technologies, of Thousand Oaks, Calif., said it will repurchase up to 1.5 million shares of stock, or 4.2 percent of the shares that were outstanding as of Dec. 28. The company said it would use cash on hand and money borrowed through an existing credit agreement. Teledyne operates Continental Motors division at Brookley Field Industrial Complex in Mobile, Ala. (Source: Mobile Press-Register, 02/26/09)