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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (6761)	9/11/2000 10:28:17 PM
From: art slott	Read Replies (1) \| Respond to of 8220

Currency blues? IBM (IBM) certainly didn't help the Dow as the computer giant dropped 5 to 124 1/2 on concerns raised by Goldman Sachs. Analyst Laura Conigliaro lowered her earnings estimates for Big Blue's fourth quarter from $1.53 to $1.50 per share, and trimmed full-year EPS from $4.50 to $4.45, citing currency fluctuations, especially in the lackluster euro. Conigliaro was of the opinion that more nimble, faster- growing companies could take the fading euro in stride, but that IBM, being a slower-growing leviathan, would absorb some hits. But Raging Bull member keel55 didn't buy the explanation: "Currency risk? Anyone who has followed IBM for more than 5 minutes knows that they hedge currency risk. Unless they have changed dramatically since the last annual report, they still do. I know Ms. Conigliaro is aware of this, but did not mention it. Curious." From Raging Bull.