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Orbital To Buy Back $50 Million Of Stock

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Orbital Sciences Corp. [ORB] will buy back $50 million more of its stock, adding to an earlier $50 million repurchase, the company announced. The move comes after an Orbital Taurus XL rocket failed to lift a NASA Orbiting Carbon Observatory satellite to space because a nosecone fairing protecting the satellite failed to separate. (Please see Space & Missile Defense Report, Monday, March 2, 2009.) The new stock buyback over the coming year adds to a prior $50 million repurchase expiring…

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