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To: X Y Zebra who wrote (57417)	6/12/2002 10:52:58 AM
From: nokomis	Respond to of 208838

10:39am 06/12/02 IBM hits multi-year low as S. Bernstein trims ests. (IBM) By Tomi Kilgore Analyst Toni Sacconaghi, Jr. at Sanford Bernstein cut his 2002 earnings estimate for IBM (IBM) to $4.00 from $4.20, citing continued weak spending on information technology. Analysts polled by Thomson Financial/First Call are expecting earnings of $4.09 a share, on average. He also believes one-time factors that have boosted earnings in the past appear to be reversing, and thinks that profitability in IBM's microelectronics business will continue to be weak. The Dow industrials ($INDU) component is shedding 65 cents to $74.84. The stock had hit a low of $74.60 earlier in the session, the lowest level seen since November 1998.