Tuesday's Winners & Losers: Expedia

Updated from 12:01 p.m.

Expedia(EXPE Quote) was among the Nasdaq's winners Tuesday, vaulting 14.3% after the travel Web site announced a $3.5 billion stock buyback program.

The company said it plans to buy up to 116.7 million shares of stock at prices ranging from $27.50 to $30 a share. The buyback represents about 42% of the company's outstanding shares. "With this action, we couldn't be clearer that the management and the board of this company are confident in the value of Expedia and in its long-term future," the company said. The tender offer is expected to begin during the week of June 25. Shares closed up $3.64 to $29.14.

FactSet Research Systems(FDS Quote) rose 6.6% after the data provider posted better-than-expected third-quarter results. The company earned $28.6 million, or 56 cents a share, on revenue of $121.1 million. Excluding a one-time gain, the company earned 52 cents a share. Analysts polled by Thomson Financial expected earnings of 51 cents a share on revenue of $120.1 million. During the year-earlier period, the company earned $21 million, or 41 cents a share, on revenue of $98.8 million. ...