IBM (IBM) says it expects 2008 EPS of at least $8.25. Sets $15 billion stock buyback. Says it expects the share repurchase activity could add up to $0.05 to 2008 EPS. In January, the company said it expected 2008 EPS of $8.20-$8.30.
Nordstrom (JWN) posts $0.92, vs. $0.89 a year ago, fourth quarter EPS as fewer shares offset slight same-store sales decline, 4.4% total sales decline. The department store chain sees flat to 2% decline in fiscal year 2009 same-store sales, 30-60 basis point decline in gross profit margin, EPS of $2.75-$2.90. It sees first quarter EPS of $0.49-$0.54 on 3%-5% decline in comps. Guidance below current Street estimates. S&P downgrades to hold from buy.