AOL (AOL +2.7%) pops after announcing its anticipated stock buyback, the fruits of its $1.056B...

|About: AOL Inc. (AOL)|By:, SA News Editor

AOL (AOL +2.7%) pops after announcing its anticipated stock buyback, the fruits of its $1.056B Microsoft patent windfall. The buyback will occur in the form of a $400M Dutch auction tender offer featuring a price range of $27-$30 (AOL currently trades at $28.05), and which is good through August 2. AOL claims the buyback is just the first step in returning all of the patent proceeds to shareholders.