IBM: Capital Returns To Shareholders Aren't Financial Engineering
- Financial engineering is an overused term when a company does a large-scale stock buyback program.
- The weak results of IBM are well documented, but the FCF remains strong compared to the market valuation.
- The recent 15% net payout yield is a strong buy signal.
Read the full article at Seeking Alpha.
Disclosure: Long IBM. Please read the disclaimer page for more details.