Chip Plan Chops IBM - TheStreet

IBM

(IBM) - Get Report

was down 2.1% at midmorning before its expected announcement of a $5 billion expansion of its semiconductor capacity. The program includes a new $2.5 billion plant in East Fishkill, N.Y. IBM has held up well in recent sessions, despite rumors it would disappoint the Street when it reports third-quarter earnings next week. Computer stocks were generally lower this morning, with the

Box Maker Index

(BMX)

down 2.1%.