Talk about adding insult to injury:
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OptionInvestor.com Announces Investment Opinion
on IBM
Business Wire - October 21, 1999 17:48
LITTLETON, Colo.--(BUSINESS WIRE)--Oct. 21, 1999--
IBM Hammers the Market
Tech stocks plunged today following International Business Machines' (NYSE:IBM)
gloomy warning that concerns over the year 2000 bug are hurting hardware sales and
may cut into profits. IBM's stock had traded as low as $89.00 this morning, an
18-point discount to Wednesday's close of $107.00. IBM initially stunned investors
after the close of trading Wednesday by stating that potential buyers of its networks
and database servers are postponing purchases until after the New Year, when issues
concerning the Y2K bug are completely resolved.
Unfortunately for the market, IBM's fall from grace wasn't a solo act. Moving down
in sympathy with the computer giant were high-tech leaders Sun Microsystems
(NASDAQ:SUNW), Microsoft (NASDAQ:MSFT), Intel (NASDAQ:INTC), Dell
Computer (NASDAQ:DELL), Cisco Systems (NASDAQ:CSCO), Oracle Corp.
(NASDAQ:ORCL), Hewlett-Packard (NYSE:HWP), and Compuware Corp.
(NASDAQ:CPWR).
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I guess CPQ not only HAS TO participate in such prestigious downfalls but it does so while not being included among the HIGH-TECH LEADERS
:^)
/Piotr |
