I.B.M. endures a rough day on Wall St., but finishes up
Article Abstract:
IBM shares plunged about 5% after the company warned of increasing pressures on its 2nd qtr results and numerous Wall Street analysts decreased their company earnings estimates. However, the selloff attracted bargain hunters and IBM shares ended slightly up. Even following this recovery, IBM shares are well below their 52-week high of $128.875 reached in Feb 1996. IBM CFO G. Richard Thoman alarmed financial analysts with the announcement that profit pressures from currency changes and the fall of memory chip pricing had harmed the company. While the company's personal computer sales are improving, product-transition issues in its high performing large computer market and its disk drive business have become less profitable. Although analysts predict that a solid 4th qtr 1996 would improve IBM's full-year estimates, analysts at Lehman Brothers, Salomon Brothers and Paine Webber cut their earnings estimates.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Computer sales slowdown falls short of indications
Article Abstract:
First quarter computer industry data shows that PC sales did not slump, as many analysts had predicted, but instead increased 15% over last year's results. Dataquest, a market research firm, reports that vendors shipped 5.7 million personal computers in the first quarter and predicts worldwide PC shipments for 1996 will increase 19.1% over 1995's results. Analysts indicate PC sales will spike in the second half when Microsoft introduces its Windows NT 4.0 operating system. Analysts mistakenly predicted slower sales based on troubled reports from Compaq and DEC, industry pricing actions and the industry's declining PC book-to-bill ratio. However, it appears those factors only slowed sales during the short-term and do not present a long term threat. Analysts now expect that increasing demand for Internet and multimedia applications as well as Intel processors will ensure PC sales increase during the year.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Sun Microsystems to buy Diba, a start-up
Article Abstract:
Sun Microsystems has announced plans to purchase the small start-up company, Diba. This acquisition follows Microsoft's buying WebTV and Oracle purchasing Navio. The acquisitions show the importance that all three companies are placing on the merger of television and the Internet. Diba has been creating technology for devices that scan the Internet and send electronic mail. Sun plans to make Diba into its new Consumer Technologies Group, a business unit within the company's microelectronics division. The Consumer Technologies Group will be developing products such as set top and satellite boxes for Internet-enabled TVs and smart phones. Sun and Diba have not determined whether the Diba brand name will continue to exist after the acquisition.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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