After trailing the S&P 500 for 5 years, shares of IBM began breaking out over the past month on its stock buy back and job cuts. Has IBM become a lean mean International Business Machine(s)?
Eric Bolling says IBM has slashed 3,700 jobs, announced $15 billion share buyback, raised quarterly dividend 33% and the stock is up 11% since April. He thinks the company is starting to click.
Jeff Macke does not see any organic EPS growth. He thinks the stock increase comes from smart financial engineering, not growth.
Guy Adami adds nothing has changed at IBM.