Home Depot will buy up to two billion dollars in shares

ATLANTA - Home Depot will repurchase up to two billion dollars of company shares with its stock at a three-year low. <br> <br> Company chairman and chief executive Robert Nardelli said in a statement day that the home improvement retailer is ``very comfortable&#39;&#39; with analysts&#39; earnings forecast of 47 cents per share in the second quarter. <br> <br> The company also confirmed its three-year guidance of 15 to 18 percent annual sales growth and 18 to 20 percent annual earnings growth through fiscal 2004. <br> <br> Home Depot said the stock repurchase, effective immediately, will continue indefinitely. The company&#39;s shares have shed more than 42 percent of their value this year. <br> <br> Shares rose 91 cents to close Monday afternoon at $30 on the New York Stock Exchange.