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International Business Machines Corporation Message Board

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  • freenextel freenextel Feb 8, 2008 6:18 AM Flag

    Using Margin!

    I noticed the last time we surpassed 60 million shares to the green we shot up from 90 to 120. Well we hit 80 million green (on 3 year chart) in beginning of january.. Is this a good sign. Is IBM accumulating in their buy back. I like this chart.

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    • According to the IBM CFO's conference call,IBM spent $220 mil of the latest $1 bil buying 2.2 mil shares ($100@) -- so they had $780 mil left going into this year.

      The CFO was asked in the CC what the buyback would look like this year and he said it could be more aggressive than the recent run rate of $8 - $10 bil -- but not of course close to the apx $19 bil spent last year.

      But with rates low,and especially low for prime borrowers like IBM, and with Big Blue trading at such a low p/e it looks like a good time to increase the buyback.I expected a new allocation in April but the IBM board probably doesn't need a meeting to OK a new authorization.

 
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