Stocks finish mixed after rumors of bad IBM results deflate rally

Article Abstract:

The stock market experienced large gains and losses Oct 14, 1992, because of rumors that IBM would report poor earnings for its fiscal quarter, causing the Dow Jones Industrial Average to drop from a gain of 15 points to a loss of over 20 points. However, the industrial average rose again toward the end of the day, finishing at 3195.48, a 5.94 loss in points. Standard and Poor's 500-Stock Index finished at 409.37, a .07 point gain, and the New York Stock Exchange Composite Index finished at 225.39, a gain of .08 points. On Oct 15, 1992, IBM's stock dropped .75 points for the day. Rumors have been circulating that the company may cancel its dividend, although the company said in early Oct, 1992, that it would not cut the dividend. Some analysts see the shaky performance of IBM's stock as a sign that the computer market may fall still lower before rising again. However, some analysts are more optimistic.

Prices and rates, Outlook

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Lower corporate profits continue to dog market; stocks end mixed

Article Abstract:

Confidence in the stock market has continued to decline in the light of weak corporate profits for the first quarter of 1991. A two and a quarter point drop by IBM led to a four point drop for the Dow Jones Industrial Average. IBM ended the day at 111 and seven-eights. AT&T's recent contract with Spain's Telefonica to build a $500 million undersea cable in 1994 helped it in the light of the difficulties it is encountering in its takeover bid for NCR. AT&T dropped one quarter of a point to 33 and three-quarters. NCR, meanwhile, rose a quarter of a point to 98 and a quarter. Telecommunication company Nynex followed the general downslide for technology stocks and dropped one and one-eighth of a point to 73 and five-eights.

Office machines, not elsewhere classified, Telephone communications, exc. radio, Computer peripheral equipment, not elsewhere classified, Telecommunications services industry, Telecommunications industry, Reports, T, NCR Corp., NCR, American Telephone and Telegraph Co., Telecommunications, NYNEX Corp., NYN

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Technology stocks lead decline on worry over corporate profits

Article Abstract:

Investors worry about corporate profits for high-technology companies sent share prices down on Mar 11, 1991. IBM, which fell $2.125 a share for the day, and Intel Corp, which fell $5.75 a share, led the decline. Investors seem to have ignored the dropping interest rates and focused their worries on other economic indicators, including the 6.5 percent unemployment rate which suggests the recession has not yet ended. Analysts expect the recession's effects to be felt with regard to company earnings. Estimates for IBM's 1st qtr 1991 earnings have dropped from $1.82 a share to $1.75 a share; the number one computer maker earned $1.81 a share in the same period in 1990.

Analysis, High technology industry, Intel Corp., United States economic conditions

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