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A $4 billion open-ended repurchase authorized August 27 has Workday (NASDAQ: WDAY) in focus, landing inside two weeks of Silver Lake acquisition reports and reading on the tape as management arguing its independent case.
Jim Cramer flagged the tension on Mad Money the night the Silver Lake report sent WDAY up 18% in a session, and again in late August after the buyback disclosure, paraphrasing it as a company fighting a takeover with capital return.
The next confirmable event is October 13, when Workday has scheduled its annual analyst day.
The numbers The crowded side here is a stock that jumped on deal speculation while the company's own capital allocation points the other direction.
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