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Bulls Hoping IBM Buyback Opens the Spigot on Corporate Demand

  • As reporting season unfolds, more money will be freed up
  • Corporate demand likely last resort for bulls to halt selloff
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IBM's Been 'Reshaping' for This Moment, CEO Rometty Says

The earnings-related blackout in share repurchases is fast ending, and one group of buyers is lining up for shares that are a lot cheaper now than they were before.

IBM Corp. said Tuesday it will buy back as much as $4 billion in shares, taking advantage of the 22 percent rout in its stock since the end of the third quarter. IBM is part of a cohort of buyers that have been absent as the S&P 500 Index hurtles toward its worst month of the bull market.