eGain shares rise 7.46% premarket after increasing stock repurchase program by $20 million.

Egain Corporation rose 7.46% in premarket trading, with the company announcing an increase to its stock repurchase program by $20 million, bringing the total authorization to $60 million. The company's CEO, Ashu Roy, stated that the strong balance sheet allows them to focus on driving long-term shareholder value and underscores their belief that the shares are undervalued.