Zeev's Turnips Patch-No Politics (ZEEV)

[SantaCruz]

You found IBM neutral? I still can't figure out why it's up to 70 ah and now wish I had shorted it there. But, I figure they'll probably run it to 75 tomorrow so why not wait. ;)

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