Microsoft and Target rise with buybacks, FedEx jumps, Adobe hits 52-week high

Here are some of the stocks the Yahoo Finance team will be watching for you today:

Microsoft (MSFT) shares rose in early trading after the tech giant announced late yesterday that it’s boosting its dividend by 8% to $0.39 a share. Its board also approved a share buyback program of up to $40 billion.

Target (TGT) shares are also higher on buyback news this morning. The discount retail chain announced its will purchase $5 billion worth of its stock.

FedEx (FDX) shares soared in early trading. The shipping giant delivered a beat on both its top and bottom lines for the fiscal first quarter as revenue soared nearly 20% from a year ago. FedEx also raised its outlook for the year and sees a record holiday shipping season.

Adobe Systems (ADBE) traded at a new 52-week high in early trading. The software firm behind Photoshop and Illustrator raised its guidance for the current quarter after reporting better than expected earnings and revenue for the fiscal third quarter. The results were driven largely by a big jump in subscription sales of cloud-based software tools

Mylan (MYL), the company that makes the Epipen allergy treatment, is in the spotlight. CEO Heather Bresch appears today before a House committee to answer questions amid outrage over the 500% price increase of the life-saving device. In prepared remarks, Bresch says she regrets the company didn’t better anticipate the quote “magnitude and acceleration of the rising financial issues” of patients who paid the full $600 price for an Epipen two-pack. She also defends the company, saying it has quote “struck a balance” between price and access to the drug.