Trimble rises on new share buyback program

Shares of navigation equipment maker Trimble TRMB.O rise 1.4% to $83.50 premarket

TRMB announces share repurchase authorization of up to $1.0 bln for co's common stock shares

Stock repurchase authorization does not have an expiration date, says co

New program replaces prior authorization of up to $1.0 bln, of which $273 mln remained as of end of Q3; previous authorization now cancelled, says TRMB

As of last close, TRMB up ~16% YTD