Abnormal movement in U.S. stocks | Workday (WDAY.US) rises more than 9% before the market opens with Elliott's investment and announcement of a $4 billion share repurchase.

According to the Tencent Finance APP, the stock price of Workday (WDAY.US) rose more than 9% in pre-market trading on Wednesday. Prior to this, activist investor Elliott Management Corporation stated that they have purchased over $2 billion worth of shares in this human resources software provider. In addition, Workday's board of directors has approved a plan to repurchase up to $4 billion of its issued Class A common stock. Including existing authorizations, the company plans to repurchase about $5 billion of Class A common stock by the fiscal year 2027.