Microsoft on Monday announced a new stock buyback program of up to $40 billion, sending its stock up more than 5 percent in premarket trading.
The software giant said it would repurchase up to $40 billion worth of its shares through September 2013. It recently completed a previous $40 billion buyback program.
Investors, who tend to cheer stock buyback programs because it makes existing shares in the market more valuable, pushed Microsoft's stock to $26.50 a share in premarket trading, up 5.33 percent.
Microsoft has seen its shares lose roughly 22 percent of their value since it … Read more