November 26, 1996 1:00 PM ET
IBM authorizes $3.5B stock buy-back
By Margaret Kane

IBM today authorized a plan to buy back $3.5 billion worth of common stock on the open market. Since Jan. 31, 1995, the Armonk, N.Y., computer giant has repurchased more than $9.7 billion worth of its common stock and authorized five buy-back programs. Currently, IBM has 521.8 million shares of common stock outstanding. In early-morning trading today, the stock was at $159.12, up $1.50. Copyright(c) 1996 Ziff-Davis Publishing Company. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Ziff-Davis Publishing Company is prohibited. PC Week and the PC Week logo are trademarks of Ziff-Davis Publishing Company. PC Week Online and the PC Week Online logo are trademarks of Ziff-Davis Publishing Company. Send mail to PC Week