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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject8/30/2002 11:27:20 AM
From: Box-By-The-Riviera™   of 436258
 
somebody isn't on vacation

DJ MARKET TALK: Sun, H-P May Not Bode Well For IBM

30 Aug 08:59


Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201-938-5299; email: tom.granahan@dowjones.com)

MARKET TALK can be found using N/DJMT

8:57 (Dow Jones) Sun Microsystems' (SUNW) cautious mid-quarter update,
coupled with Hewlett-Packard's (HPQ) poor enterprise hardware results, led Bear
Stearns analyst Andy Neff to raise concerns about International Business
Machines' (IBM) outlook. Neff notes that about 34% of Big Blue's sales come
from hardware, but even more worrisome is its services business. His concerns
over services stems from the fact that IBM hasn't had any major services
contract signings announcements so far this quarter and the ones that have been
announced are "fairly small in magnitude." Late Thursday Sun guided to the
bottom of its revenue target for a decline of 10% to 15% and Tuesday H-P
reported a 22% decline in its enterprise hardware sales compared to a year ago.
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