Why Shares in Trimble Rose 10% in August
Shares in positioning technology company Trimble (NASDAQ: TRMB) rose 10.2% in August, according to data provided by S&P Global Market Intelligence. The move comes on the back of a couple of positive pieces of news flow. The first was an excellent set of second-quarter earnings released at the start of the month. More on that in a moment.
The second was the announcement on Aug. 19 of a new $750 million share repurchase program. Investors often see share repurchase authorizations positively for stock prices as company buying provides underlying support for the stock.
Source Fool.com