IBM is preparing to mark its 100th birthday next week, but there's another key date for the technology giant later this summer, Bloomberg Businessweek reports.

CEO Sam Palmisano turns 60 on July 29, setting off speculation that the company may soon name his successor. That's the age when IBM CEOs have traditionally tapped their replacements, the magazine reports.

The new leader will help shape IBM's future direction and strategy, decisions that will effect the 10,000 employees at the company's Research Triangle Park campus.

IBM plans to buy back $8 billion more of its shares and boost its dividend 15 percent, bullish moves by the tech giant.

The dividend will increase 10 cents a share to 75 cents, and marks the 16th straight year IBM is raising the payout. That move and the stock repurchase plan signal to Wall Street that IBM is confident its long-term prospects allow it to return more of its cash to investors.

New York-based IBM employs about 10,000 people at its Research Triangle Park campus, and its stock is owned by many employees and retirees in this region. It's also one of the world's most widely held stocks.

IBM reported financial results that exceeded Wall Street expectations, as the technology company continues to thrive despite the shaky global economy.

The New York company, which employs about 10,000 people at its campus in Research Triangle Park, reported a third-quarter profit of $2.82 a share. Revenue rose 3 percent from a year ago to $24.3 billion.

IBM also raised its earnings per share projection for the year to at least $11.40, up from $11.25.

Still, new service contracts fell 7 percent during the third quarter to $11 billion, the third straight quarterly drop. That suggests the recovery in tech spending may be losing steam, Bloomberg News reported.

IBM shares have been hitting record highs recently and may be due for a pullback. Investors are betting that CEO Sam Palmisano's efforts to remake the company by focusing more on software and services and less on hardware are paying off.

The shares rose $1.77 today to $142.83, and are up 17 percent in the past year.

IBM CEO Sam Palmisano said today that it isn't "cast in stone" that he'll step down at age 60.

Palmisano, who turns 60 next year, was asked at the Wall Street Journal's Viewpoints Executive Breakfast Series in New York whether he plans to step down.

"There's no formal policy," Palmisano said, according to Bloomberg News.  He later added, "I'm not going anywhere."

Despite layoffs in recent years, IBM has an estimated 10,000 employees in Research Triangle Park. The company announced in July it would add 600 jobs at its RTP campus by opening a center to provide services to mortgage lenders.

Three of IBM's past four CEOs have stepped down at 60. Palmisano has led IBM since 2002.

IBM plans to spend $20 billion on acquisitions during the next five years, the company's CEO told investors in New York today.

CEO Sam Palmisano is signaling his pace of acquisitions may be accelerating, Bloomberg News reported. He spent more than $20 billion on 100 purchases in the eight years since taking over in 2002, partly to focus on the higher-margin businesses of services and software. He has also bought back shares and cut jobs to help boost earnings.

IBM is one of the Triangle's largest private employers, with about 10,000 workers at its Research Triangle Park campus. Palmisano's big buyout plans also could mean good news for this region's collection of software and tech firms, if he embraces shopping locally.

Palmisano also said he expects the company's earnings will jump to about $20 per share by 2015, bolstered by cost savings and software demand. The company reiterated that earnings per share will grow more than 10 percent this year, to at least $11.20.