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IBM has added $5B to its stock buyback plan, raising the company's total authorization size to...

IBM has added $5B to its stock buyback plan, raising the company's total authorization size to $11.7B. That's good for buying back 5.3% of outstanding shares at current levels. IBM's huge buybacks are a big reason why it has met or beaten EPS estimates (I, II) in recent quarters even as its revenue misses.
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