Yahoo! Announces $3 billion Stock Buyback (YHOO)

Shares of Yahoo Inc.

are higher in the after-hours by 1.01%, trading at $13.98; the company announced after the bell, in an 8-k filling, that the Yahoo board authorized a new stock buyback program. The SEC filing said that YHOO is now authorized to purchase up to $3 billion in common stock from time to time over the next three years. The repurchases may take place in the open market or in privately negotiated transactions, including derivative transactions, and may be made under a Rule 10b5-1 plan. Yahoo! Inc., together with its subsidiaries, is an online media company. The Company attracts users every month through its technology and engaging content and services. To users, it provides online properties and services.