Clown-Free Zone... sorry, no clowns allowed Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: marginmike who wrote (202249)	11/4/2002 10:51:36 PM
From: Cactus Jack	Read Replies (3) of 436258

Geez, Has anyone seen this? biz.yahoo.com IBM Says PwC Consulting Buy May Cut 4th-Quarter Earnings by $750 Million Monday November 4, 6:05 pm ET Dow Jones Newswires WASHINGTON -- International Business Machines Corp.'s $3.5 billion purchase of PwC Consulting in October could cut the computer giant's fourth- quarter earnings by as much as $750 million. The pretax hit to IBM's earnings would come in the form of integration and restructuring charges, one-time costs for compensation to some PwC Consulting employees and partners, and amortization of intangibles, according to IBM's third-quarter report filed Monday with the Securities and Exchange Commission. A prior IBM filing said the company expected a $500 million reduction in fourth-quarter earnings on the PwC purchase. IBM has been expecting the deal to cut into earnings by 30 cents a share. IBM, Armonk, N.Y., said in the filing it will record $187 million in pretax, one-time compensation costs in the fourth quarter related to restricted stock awards and the compensation element of convertible notes issued as part of the PwC Consulting deal. IBM is planning a rapid integration of PwC Consulting, the filing said, adding it "has mobilized a sizable team to work towards a rapid integration that is targeted for completion in the first quarter of 2003."

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next