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Jim Cramer's Stop Trading! 2/26/08: Much Ado about Price Wars

Maybe Jim Cramer forgot to notice that the $15 billion buyback actually adds about 65 cents to this years earnings. Not to mention raising earnings by 5 cents at the same time.

The reality is that IBM just reduced it's cash position and lowered it's guidance by 60 cents. Depending of course on how you want to look at it.