ConocoPhilips Shares up 3% After Company Annouces $15B Share Buy Back

Conoco's buy back represents about 180 million shares, or 11% of all outstanding stock, it will be buying back shares every quarter until the end of 2008. Very bullish news for Conoco stock holders, on top of high oil prices, making this stock look attractive in times where the sub prime mess is pushing most averages lower.