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.
Trimble's solutions help customers with the positioning needs, such as points on space trusses during construction. Image source: Getty Images.
Source Fool.com
