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Technology Stocks : IBM
IBM 303.16-1.8%Dec 16 3:59 PM EST
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To: Don Hurst who wrote (3220)6/8/1998 6:31:00 PM
From: Arrow Hd.  Read Replies (1) of 8218
 
IBM, as most large multi-national companies do, has a very
sophisticated trading operation from which they do their stock buyback
programs, hedge currencies among other trading activities. On balance
the strong dollar does more damage than help. The "constant
currency" quote is the number that would have been made if the dollar
had not moved up (if it was the same as it was in the comparable
quarter). It is a bogus, feel-good number. If it was important from
a financial standpoint there would not be as much preoccupation with
what the Yen and Dmark are pegged at.
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