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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (15344)	12/4/2002 6:27:30 PM
From: Rainy_Day_Woman	Read Replies (3) \| Respond to of 57110

IBM UP ON PENSION FUND NEWS In contrast, shares of International Business Machines Corp. (NYSE:IBM - News) rose in extended trading on Wednesday after the company said it will be able to restore its underfunded pension fund by the end of the year. Shares of IBM rose to $84.25 on Instinet from their NYSE close at $83.69 after the company said it will cost $3 billion to restore the fund -- less than the $4.5 billion expected. The amount changed due to the improvement in the equity markets and in the status of the pension fund, IBM said. IBM also said it expects its stock buyback to be lower than usual in the first half of 2003, but will return to significant levels in the second half.