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No. of Recommendations: 5
The press release can be found at http://seekingalpha.com/pr/9602263-ibm-reports-2014-first-qu.... The initial market reaction is poor with shares down about 4% even though EPS met estimates.

Interestingly, roughly 4% of shares were bought back in Q1 alone (if my math is correct) which seems quite remarkable. The number of diluted shares outstanding is now 1.04 billion as compared to 1.08 billion last quarter.
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