BBC News
watch One-Minute World News
Last Updated: Tuesday, 26 February 2008, 21:39 GMT
IBM announces $15bn share buyback
IBM sign
IBM is one of the technology industry's main bellwether stocks
Computer giant IBM has announced plans to buy back $15bn (7.6bn) of its shares, sending its stock price up 4%.

The planned repurchase, which is equivalent to about 10% of IBM's market value, impressed analysts as it comes at a time of recession fears in the US.

Shaw Wu of American Technology Research said IBM was "showing its confidence" despite a "difficult environment".

IBM said it now expects its 2008 profit to rise 16%. Last month it unveiled a 24% rise in quarterly earnings.

The company's share buyback announcement gave the US markets a major lift on Tuesday, with the main Dow Jones index advancing 115 points.

IBM spent $18.8bn buying back shares last year.



SEE ALSO
Overseas demand lifts IBM profits
14 Jan 08 |  Business
IBM fights Amazon in Texas court
23 Oct 06 |  Business
IBM pays $1.3bn for security firm
23 Aug 06 |  Business
IBM buys software group for $5bn
12 Nov 07 |  Business
PC disposal depresses IBM sales
19 Apr 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific