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Shares of Huntsman Corp. rallied 1.5% in premarket trading Monday, after the specialty chemicals company said it has doubled its stock repurchase program to $2 billion. The new program represents 25.9% of Huntsman’s market capitalization of $7.72 billion as of Friday’s close. The company said it had repurchased $102 million worth of shares under its previous share repurchase program, meaning the company is now authorized to buy back up to about $1.9 billion worth of shares. The stock has gained 3.2% year to date through Friday, while the S&P 500 has lost 4.7%.
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