IBM Stock Buyback Spurs Market

February 26, 2008 at 9:58 am  ·  Category: Market Commentary, Stocks

A little before 11am EST IBM (IBM) announced that its board had authorized a $15 billion share buyback and that it plans buy back about $12 billion in stock in 2008.

The announcement led to a jump in IBM stock (IBM Intraday Chart) and the entire market (S&P Intraday Chart).

Disclosure: Top Gun has no position in IBM (IBM) shares.

Posted by Greg Feirman  ·  Trackback URL  ·  Link

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