IBM profit flat on pension case
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US computer giant IBM blames a $320m pension lawsuit settlement as it reports flat third quarter profits.
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U.S. stocks were flat on Wednesday  after Federal Reserve Chairman Alan Greenspan said the economy  had recovered from its soft patch and a number of companies  warned about their earnings.
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International Business Machines  Corp. IBM.N on Tuesday posted a quarterly net profit that  beat Wall Street's recently raised profit target as solid  year-end product sales were buoyed by a weaker U.S. dollar.
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NEW YORK - IBM Corp. posted quarterly results on Monday showing 9 percent revenue growth from last year and slight earnings growth, despite a $320 million charge it took during the quarter to settle some claims in a lawsuit over its pension plan.
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Legal action was taken against IBM concerning its conversion to a controversial cash-balance pension plan. Under the terms of the agreement, IBM will pay at least $300 million to settle certain claims in the complex lawsuit.
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IBM Corp. and plaintiffs challenging the legality of its pension plan agreed to a deal Wednesday that settles most claims and caps the company&#39;s potential liability at $1.
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IBM, a barometer of trends in the computing business, delivered a solid quarterly performance on Monday that pointed to modest if uneven improvement in the corporate technology sector.
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International Business Machines Corp.  has settled for an undisclosed sum part of a potentially multi-billion-dollar lawsuit over its pension plan, a Wednesday court filing shows.
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U.S. stocks were largely flat on  Friday after data that boosted optimism about corporate profits  and consumer spending offset declines in Texas Instruments   following a downgrade of the stock.
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IBM and the rest of the tech industry might have a better year than most onlookers expected. IBM's third-quarter earnings rose 15% from a year earlier, to &#36;1.17 a share, excluding a one-time &#36;320 million charge to settle a lawsuit over its pension plan. That beat analysts' average estimate by 3 cents a share.
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IBM will take a $320m (Â£178m) charge this quarter to settle some claims and cap its liability on others in a long-running class-action dispute about changes made in the 1990s to its pension plan.
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International Business Machines Corp.  IBM.N on Monday posted a flat quarterly net profit, weighed  down by a legal settlement, but said fourth-quarter results  would be better than expected, and its shares rose 2.3 percent.
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Oct. 11 issue - IBM retirees will get their cash, but what&#39;s it to you? It&#39;s too soon to tell. Last week IBM agreed to pay $300 million to settle old pension claims, and agreed to pay $1.
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Stocks looked set to snap back on Friday as IBM  delivered a higher-than-expected profit forecast and economic bellwether General Electric Co  posted earnings that met Wall Street expectations.
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International Business Machines Corp. reported a small gain in third-quarter profits Monday, as increasing revenues in almost every area of the business, including emerging markets such as Russia and China, helped offset expenses from a pension lawsuit.
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Starting next year, International Business Machines (IBM) will exclude new workers from its contested cash-balance pension plan and offer them only a 401(k) savings plan.
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SAN FRANCISCO (CBS.MW) -- IBM Corp. said Wednesday it would take a $320 million charge toward its third-quarter earnings as part of an agreement to resolve certain claims in a lawsuit brought against its pension plan.