IBM Slips 2.1% on Forecast
IBM
(IBM) - Get International Business Machines Corporation Report
was down 2.1% in preopen
Instinet
trading after CEO Louis Gerstner predicted high single-digit sales growth for the computer giant, down from his earlier estimate of 10% or better.
Scroll to Continue
TheStreet Recommends
In addition, IBM executives said Big Blue did not have enough units on hand to meet demand for its latest mainframe.
Lehman Brothers
and
Bear Stearns
maintained their buy ratings.
