Western Digital to Buyback Additional $4Bln of Common Stock, Sending Stock Up 4% Pre-Market: WD

[Para 1: The Lead] Western Digital Corporation (WD) announced plans to repurchase an additional $4 billion of its common stock, effective immediately. This action is expected to boost investor confidence and drive the stock price up 4% in pre-market trading on February 3, 2026. [Para 2-3: Supporting details & Context] The repurchase is part of WD's ongoing strategy to optimize capital structure and return value to shareholders. As of the announcement, WD's stock price is trading at $120 per share. The company's management believes this move will enhance shareholder value by leveraging WD's strong financial position and growth prospects in the data storage industry. The repurchase is subject to market conditions and regulatory requirements.