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Siemens shares rise on buyback announcement
Joe Kaeser, President and CEO of Siemens, speaks during the company's annual press conference in Berlin, Germany, Thursday, Nov. 7, 2013. German industrial conglomerate Siemens AG says net profit dropped in its fourth quarter but that it's optimistic cost-cutting measures will help boost its bottom line in 2014. Siemens reported a fourth-quarter net profit of 1.07 billion euros (US dollar 1.45 billion), down from 1.19 billion euros in the same quarter last year. Revenues declined to 21.17 billion euros from 21.44 billion in the quarter. (AP Photo/Michael Sohn)

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