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IBM DISAPPOINTS WITH YET ANOTHER “DOWN” QUARTER

IBM Corp shares were $2.75 ahead at $169.75 on Monday on rising expectations that the company would report second quarter figures well ahead of analysts’ forecasts, perhaps even turning in the first up quarter since the final quarter of 1984. The target for to achieve that was $2.12 a share, but in the event, the company came in well under, reporting $1.95 a share for the quarter. This was still a full 10 cents ahead of the $1.85 average of brokers’ forecasts drawn up some weeks ago, and so the immediate reacation was a modest $1.625 dip in the share price. Details – page 5.

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CBR Staff Writer

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