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To: Dealer who wrote (8382)	10/17/2000 6:25:46 PM
From: Dealer	Respond to of 65232

IBM--AFTER THE BELL - IBM tumbles 6 percent NEW YORK, Oct 17 (Reuters) - Shares of International Business Machines Corp. (NYSE:IBM - news) slumped more than six percent in after-hours trading on Tuesday, as the world's largest computer maker reported third-quarter sales grew for the first time in a year, but missed Wall Street estimates. IBM shares traded on the Instinet electronic brokerage system at $105-1/2. This was down $5-3/8, from a regular close of $113. The company announced its keenly awaited earnings results after the bell and the stock price fell quickly to $107-5/8 on Instinet, before it was halted. Trading resumed on Instinet about an hour after the closing bell. The Armonk, N.Y.-based company said sales rose 3 percent to $21.8 billion, missing analysts' forecasts of $22.4 billion. IBM said its third-quarter net income was $2.0 billion, or $1.08 a share, compared with net income of $1.70 billion, or 90 cents a share, a year ago, excluding one-time gains. The results met analysts' estimates of $1.08 per share, according to a poll by research firm First Call/Thomson Financial. Investors had punished technology stocks during the regular session as fears of slowing earnings battered computer chip makers. However, IBM rose 1.69 percent during regular trading. The world's biggest chip maker Intel Corp. (NasdaqNM:INTC - news) also reported third-quarter earnings after the bell. The Santa Clara, Calif.-based company's results topped lowered expectations as flagging European sales cut into revenue. The results pushed the share price up modestly, to $37-1/2 on Instinet, from a regular session close of $36-3/16. Intel issued a sales warning in September and its shares have plunged about 50 percent in the past six weeks. Nasdaq 100 futures were up 12 to 3182, and Dow Jones Industrial Average futures fell 187, to 10,155, after the close of standard trading.