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To: UnBelievable who wrote (128484)	10/10/2001 1:09:33 PM
From: UnBelievable	Respond to of 436258

Goldman cuts IBM Q4, 2002 estimates Reuters Company News - October 10, 2001 12:00 NEW YORK, Oct 10 (Reuters) - Goldman Sachs on Wednesday said it had cut its earnings estimates for International Business Machines Corp. for the second time in two weeks, saying information technology spending has slowed further. ``Our new estimates suggest that, while IBM's numbers are likely to see less downside than many others, given a strong annuity-like base, half of its earnings are still economically sensitive, with IBM's top and bottom lines being more linked now than previously,'' Goldman said in a research note. It lowered its 2001 fourth-quarter earnings per share estimate to $1.25 from $1.40 and cut its 2002 estimate to $4.55 from $5.05. On Sept. 26 Goldman cut its 2001 earnings estimate for IBM to $4.40 per share from $4.45 and cut its 2002 estimate to $5.05 per share from $5.10. IBM shares closed on Tuesday at $97.14 on the New York Stock Exchange.