Yahoo! Announces $3 Billion Stock Buyback
Merrill Lynch released a statement regarding the buyback program, describing it as "a positive." The buyback comes after the expiration of another $500 million buyback, which began in March 2001. A Merrill Lynch analyst wrote in her report that the buyback demonstrates Yahoo!'s cash flow generation ability and a confident management, and will help support the stock and slow dilution from the exercise of stock options.