The announcement of a stock repurchase program generally suggests that a company's leadership believes its shares are undervalued and that it has sufficient cash reserves, which can be reassuring to investors. This often leads to a positive reaction in the stock market as it can reduce the number of shares outstanding, potentially increasing earnings per share and the stock's value. However, the actual impact will depend on market perception, the scale of the buyback relative to the company's market cap, and broader market conditions.