IBM has loss, drop is sales of hardware

Article Abstract:

IBM's operating profit was down for the 1st qtr of 1991, along with a 17 percent reduction in hardware sales. The company posted a loss of $1.73 billion, or $3.03 a share for the quarter, as compared to a profit of $1.04 billion for the same period last year. The results included an expected after-tax charge of $2.26 billion, which was related to the company's new post-retirement health benefits accounting rule. Revenue for the same period was down 4.5 percent to $13.55 billion from $14.19 billion. Many analysts are concerned that the company may perform badly until its new mainframe computer product line begins to show signs of sales, expected in late 1991.

Profits, Statistics (Data), Sales, Revenue, Computer Industry, Profit, Financial Report, First Quarter

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IBM news casts pall over stocks: industrials fall 14.75 on firm's outlook; bonds rise slightly

Article Abstract:

IBM's falling profit estimates are affecting the entire stock market, causing sensitive stock values to decline. IBM expects to grow at a rate that is slower than the growth of the computer industry. The announcements caused IBM stock to dip three and seven-eights ending the day at eighty-five and one-eighth. The depressed stock triggered falls from General Motors, Alcoa Aluminum and International Paper. While IBM's stock often forecasts the trends of the stock prices often signify trends in the overall market, the company has enough internal problems to render the correlation insubstantial.

Stock-exchange, Stock exchanges, Securities, Bonds (Securities), Forecasting, Stock markets, Financial Analysis Software, Trends, Stock Market, Stock, Bonds

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