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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Casaubon who wrote (40451)	10/16/2002 11:58:27 PM
From: Mike Learner	Read Replies (1) \| Respond to of 52237

IBM story: AH is up! The spin has been extremely misleading again! IBM's Net Declines 18% As Revenue Remains Flat By WILLIAM M. BULKELEY Staff Reporter of THE WALL STREET JOURNAL "International Business Machines Corp. reported an 18% drop in third-quarter net income, including losses at the hard-disk-drive business it plans to sell. But cost-cutting and strong results in its services business enabled Big Blue to report profit from continuing operations that topped expectations. The No. 1 information-technology company also said revenue was essentially unchanged from a weak year-earlier period, ending a five-quarter string of year-to-year declines. Net income fell to $1.31 billion, or 76 cents a share, from $1.6 billion, or 90 cents a share. The latest quarterly results include a loss from discontinued operations of $381 million, reflecting the Armonk, N.Y., company's agreement to sell its money-losing hard-disk-drive business to a new joint-venture company it has formed with Hitachi Ltd. That sale, announced in May, is expected to be completed by year end. The losses were more than triple the $118 million loss from discontinued operations the year before" Cost cutting dampers our recovery and it appears all companies are doing the same thing that tells me they all are trying to survive in this downturn. Therefore, higher prices for stocks are warranted, IMO. Mike