It all depends on the situation the company is in when they are reporting a stock buy back. There are a number of companies that come to mind as examples of both ways a stock can react to a stock buyback. A stock buyback along with bad news can be kill stock. For an example that happened today take a look a VISX. They got slaughtered!; yet they are going to buy back stock. So, you see, it all depends on the situation surrounding the buyback. I believe in the case of mwl it could do nothing but help. Good luck and hagd.