Jim Cramer Explains Why Investors Like Buybacks

AMD  (AMD) - Get Report announced that it will repurchase up to $4 billion of outstanding stock.

The company said that it expects to fund repurchases through cash generated from operations "which [has] been strengthened by the company’s strong operational results."

“Today’s announcement reflects our confidence in AMD’s business and the successful execution of our multi-year growth strategy,” Lisa Su, CEO, said in a statement “Our strong financial results and growing cash generation enable us to invest in the business and begin returning capital to our shareholders.”

Recap TheStreet Live: Everything Jim Cramer Is Watching Thursday