NRG Energy Announces $100 Million Stock Buyback Program

NRG Energy Inc. said on Tuesday it has launched a $100 million stock repurchase program. The electricity producer said the repurchases will be made with available cash, and with no defined time frame. "We have a lot of exciting opportunities to reinvest NRG capital in our businesses in a value enhancing way but the value proposition of our own stock at these price levels is irresistible," said Chief Executive David Crane. The stock, which slipped 0.4% in premarket trade, has declined 3.7% year to date through Monday, compared with a 11% gain in the S&P 500.