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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject10/16/2002 4:57:14 PM
From: Paul Shread  Read Replies (1) of 209892
 
16:52 ET IBM lowering pension plan rate of return assumptions (IBM) 64.90 -3.58: -- Update -- On call, says it is lowering its rate of return assumptions for its pension plan in 2003 to 8.0-8.5% (from 9.5% in 2002)... notes that this assumption will affect income statement by roughly $700 mln, but impact will be offset by $900 mln in cost savings... says its working assumption is that it will contribute as much as $1.5 bln to the U.S. pension plan with intention of having it fully funded by 2005... IBM +2.10 at 67.00

16:47 ET QLGC rises 4.2% in after hours; BRCD up 4% in sympathy :

16:45 ET QLogic beats by two cents (QLGC) 23.36 -3.04: Reports Q2 (Sep) earnings of $0.28 per share, two cents better than the Multex consensus of $0.26; revenues rose 7.7% year/year to $108.5 mln vs the $105.2 mln consensus.
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