55M shares in the flaot with a 100M share buyback....
doesn't really leave a lot of shares left to be trading. As of Feb 2013 (the last earnings date) they
spent 40M and had 60M left to go through between then and June.
One of two things has happened. 1) They have been buying shares lately driving the price up from it's 52 week low hit last month (meaning the float is down another 10M or so) or 2) There is going to be a lot of buying between the time earnings come out next week and the end of June.
Either way this is going higher.
My guess is it's a slow move, as Chen is trying to slowly reduce the float (keeping the share price stable...keeping the day traders away) as much as possible before buying the rest of the shares at the initial IPO price (12 bucks Sept 2009).
About one more 100M shares buyback should be bring the float down to around 10% of the float. At that point it would only cost 360M to buy out the entire compay (at 12 bucks a share).