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April 22, 1994

IBM SHARES RESPOND WELL TO FIGURES

By CBR Staff Writer

IBM Corp shares responded with some joy to the first quarter figures, putting on $2.25 in early trading, but chairman Loius Gerstner warned that the results from one quarter do not guarantee sustained, long-term success – we’ve improved in many areas, but we still have a long way to go; Wall Street was so stunned by IBM’s performance, there was an imbalance of buy orders for its stock and the opening of trading was delayed; in the event the opening turned out to be less enthusiastic than some had expected.

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