Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Earlie who wrote (207915)	12/4/2002 6:35:46 PM
From: ild	Read Replies (1) of 436258

Reuters IBM sees lower stock buyback in early 2003 Wednesday December 4, 5:32 pm ET NEW YORK, Dec 4 (Reuters) - International Business Machines Corp. (NYSE:IBM - News) on Wednesday said it would trim its stock buyback plans in the first half of 2003. "We will continue to repurchase stock next year, although at a much lower rate than in the past through the first half of the year (2002)," John Joyce, IBM's Chief Financial Officer, said during a conference call late on Wednesday. He added that the buyback rate would return by the latter half of 2003 "to more significant levels." The company also said it would restore its underfunded pension fund, which is currently $3 billion below being fully funded, with a mixture of half-cash and half-stock. biz.yahoo.com

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