Christmas is approaching and those bonuses are getting bigger that way.
– The Buyback Of Things: IBM To Repurchase Another $5 Billion In Stock In Next Two Quarters (ZeroHedge, Oct 28, 2014):
When all else fails, and there is no growth, what you gonna call? Buybackbusters!
A week after IBM reported atrocious earnings, due to a variety of issues but most of all because it simply repurchased the least amount of stock in the past quarter in years (as it was approaching the limit of its buyback authorization), Big Blue is back to doing the one thing it does well: the buyback of things, in this case revealing its board has just authorized $5 billion in stock buybacks through April 2015 which means that with the $1.4 billion still under authorization, IBM is set to purchase about $3.2 billion in Q4 2014 and Q1 2015, each. And then, in April 2015, IBM will ask for an even bigger stock buyback authorization from its board. Which, clearly, the board – whose IBM stock will promptly rise as a result – will grant.
Just released by IBM:
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