Synopsys rises after $1 billion share repurchase agreement 

By Reuters News

** Shares of electronic design automation software company Synopsys advance 2.4% to $502.62

** SNPS announces $1 billion accelerated share repurchase agreement with JPMorgan Chase Bank

** Co to initially receive about 1.735 million shares under the deal

** The final number of shares co repurchases will depend on SNPS's average share price during the repurchase period

** Announcement comes days after SNPS issued an upbeat 2027 forecast, after striking a revenue-sharing deal with ChatGPT-maker OpenAI

** Stock also supported by broader gains in the software sector

** Including session's move, stock up about 7% YTD

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