Share repurchase programs are often viewed positively by the market as they can indicate that a company believes its stock is undervalued and that it has sufficient cash on hand. This can lead to a short-term increase in the stock price due to the reduced supply of shares and potential improvement in financial ratios like EPS. However, the impact may be moderated by the size of the buyback relative to the company's market capitalization and the lack of a specified time frame for the repurchase.