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[marketmaven]

IKN Management Services Head Quits- Co Will Miss Coming Qtr
SPX Target of 1015 Before "Summer Bounce" IMTO

BBH's Burkly says S&P 500 could fall to 1,015 ($SPX)
By Tomi Kilgore
NEW YORK (CBS.MW) - Brown Brothers Harriman technical analyst Andrew Burkly believes there is risk of further downside for stocks, with the S&P 500 Index ($SPX) potentially falling to about 1,015. That would represent an 8.5 percent slide from current levels, and a decline of 13 percent from the 2004 high of 1,163 reached in intraday trading on March 5, "fitting with historic precedent" of a 10 to 15 percent interest rate-related correction. Longer term, however, Burkly sees any decline as a "correction" within a cyclical bull market. The S&P 500 was last down 13 points at 1,109.

David Rupert, Vice President of Management Services, is leaving IKON to pursue other interests, effective immediately. Customer Service provides world-class service and support to IKON customers through 7000 dedicated service professionals and represents a key source of recurring revenue for IKON. IKON's Outsourcing business, one of the top in the industry, includes on-site facilities management, off-site business document services, fleet management and legal document services. Professional Services provides document assessment services as well as workflow, image capture and document management services.