Tibco Software to Buy Back Stock

Shares are rising 3.4%.
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Tibco Software

(TIBX)

said its board authorized a new share repurchase program covering up to $300 million of the company's common stock.

The program replaces a previous $300 million buyback, under which about $70 million was still remaining. Repurchases will be made in the open market or in privately negotiated transactions, Tibco said.

Shares of Tibco were adding 3.4% to $7.86 Monday.

This article was written by a staff member of TheStreet.com.