Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: JBTFD who wrote (8958)	10/20/1999 4:50:00 PM
From: flatsville	Read Replies (2) of 9818

Well, I hear that IBM just met estimates excluding gains, but said "they would feel the affects of a Y2K slowdown in the 4th quarter". (It was selling off in after-hours and now is halted. Down 4 3/4 to 108 from market close.) So they've given it a last cigarette, a blindfold...It's standing in the courtyard waiting...I hear it asked for a priest. ---------------------------------------------------------------------- biz.yahoo.com Fair Use/etc... INSTANT VIEW/IBM earnings beat estimates NEW YORK, Oct 20 (Reuters) - Technology bellwether International Business Machines Corp. on Wednesday posted third-quarter earnings of 93 cents per share that beat the average Wall Street estimate of 90 cents per share, according to research firm First Call/Thomson Financial: Revenues were expected to be $21.7 billion, according to First Call/Thomson. IBM reported sales of $21.2 billion. The following are analysts comments: BILL MILTON, COMPUTER ANALYST AT BROWN BROTHERS HARRIMAN & CO. ''We're going to get some rough sledding here with revenues being lighter than expected and the Y2K problem hurting the fourth quarter.'' ''It seems like they're talking down the fourth quarter.'' DAN NILES, ANALYST WITH BANC BOSTON ROBERTSON STEPHENS ''This is even uglier than I expected. This is not ibm specific, it's an industrywide problem and they're finally admitting that they have issues. We're going to have to take our numbers down. This is what we were looking for.'' ''I thought they would squeak through on the third quarter.'' ''They said they're blowing the fourth quarter even worse than I had expected.'' (Note: this article is ''in progress''; there will likely be an update soon.) No! No! Stop! I can't take it any more...ROTFLMAO Who said analysts don't have a sense of humor?

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