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IBM Pulls Profit Goal, Sees Slowdown in Client Spending

2014-10-21 00:42:16| Electronics - Topix.net

International Business Machines Corp. abandoned a longtime earnings target seen as a test of its turnaround plans and reported sharply lower third-quarter profit on surprising softness in three of its major businesses.

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IBM to pay $1.5 billion to shed its costly chip division

2014-10-20 21:32:22| Semiconductors - Topix.net

IBM will pay $1.5 billion to Globalfoundries in order to shed its costly chip division. IBM Director of Research John E. Kelly III said in an interview Monday that handing over control of the semiconductor operations will allow it to grow faster, while IBM continues to invest in and expand its chip research.

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IBM stock falls 7% after it downgrades earnings forecast

2014-10-20 21:32:21| Semiconductors - Topix.net

Ginni Rometty, chairwoman and CEO of IBM, sold off the company's underperforming semiconductor business by paying Globalfoundries to take it. International Business Machines Corp. fell seven per cent Monday morning on stock markets after it abandoned a five-year plan to boost its profit.

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