ORB Jumps Before Rocket Launch; MSFT Announces Share Buybacks

        Orbital Sciences(ORB), a company specializing in the development of rockets, gained nearly 5% during trading hours on a volume of 1 million shares. This precedes the company's plan to launch its first spacecraft to the International Space Station on Wednesday of this week. Named Antares, the rocket will launch from NASA's Virginia facility and will carry limited items as this is considered a test flight. Though ORB has had a bumpy road, gaining only 20% since its IPO 11 years ago,  it still managed to post a 30% rise in the last year. Rocket research is a long and expensive process, so the results of this test run could be a make-or-break for the stock.
        Aeropostale(ARO) made gains of 18% today after Sycamore Partners, a company well-known for its investments in clothing companies, disclosed an 8% stake in the company. This led to speculations that the company might soon be taken private. ARO has not fared well this year, dropping from $15 to $9 in just two weeks after a disappointing second quarter earnings result. Its efforts to revamp itself as a leading brand of teen fashion wasn't as well as hoped. Similarly, rivals American Eagle Outfitters(AEO) and Abercrombie and Fitch(ANF) both reported poor outlooks and have declined in the past few weeks.
        Microsoft(MSFT) announced today that its board approved a $40 billion share repurchase program as it hiked its dividend up by 22%. This follows its acquisition of Nokia's mobile hardware unit and CEO Steve Ballmer's retirement announcement. The stock has made impressive gains, rising 30% over the past few years and 5% in the past year. It recently broke through multi-year highs by hitting an impressive $36 in July. Its shares made modest gains in early trading hours but flatlined over the course of the day.

Sources:
Associated Press

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