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IBM (IBM) is in focus after the company warned that second-quarter earnings came in short of expectations, sending shares down more than 17% in the session.
The chief executive pointed to weakness in the software and infrastructure segments, attributing the gap to clients who shifted spending toward hardware purchases.
The next confirmable milestone is the formal quarterly report, where IBM will attach hard numbers to the pre-announcement.
Where the shortfall landed IBM's chief executive was specific about the mechanism: software and infrastructure fell short because enterprise clients moved budget toward hardware during the quarter.
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