Business Services Industry
IBM's Profit Warning, AOL Concerns Weigh Heavily on Markets.
Knight Ridder/Tribune Business News, October, 1999 by Monique El-Faizy ^Scheier, Rachel
Knight Ridder/Tribune Business News
Oct. 21 -- A warning about IBM's profits in the months to come is expected to put heavy pressure on the stock market today, even though a strong rally yesterday pushed the tech-heavy Nasdaq up almost 4 percent.
Both IBM and AOL posted their latest quarterly results late yesterday, disappointing Wall Street.
Many market observers thought investors wouldn't take the news well when trading gets underway today.
"This is going to have a substantive impact on the market," said First Call research director Chuck Hill. "This is not good."
Weakness in technology stocks is likely to pull the whole market down, added Barry Hyman, chief market strategist at Ehrenkrantz King Nussbaum.
"Tech...
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