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Yahoo rises on Additional Buyback Program

 (Image source: economictimes)

Shares of Yahoo! Inc. (NASDAQ:YHOO) are trading higher this morning on the announcement of an increase in the company’s stock buyback program. Yahoo raised the stock buyback program by another $5 billion, which expected to boost the price of the stock and in the process enhance shareholder value. Yahoo is poised to trade around the $40 a share range when Alibaba Group Holding Ltd goes public in first quarter of 2014. Yahoo has a 24 percent stake in Alibaba. With the IPO frenzy in full-effect recently, Yahoo will benefit greatly from that frenzy. It is a great time to consider Yahoo prior to the Alibaba IPO.