"Big Blue" Stock Drags the Dow After Earnings

IBM Corp (NYSE:IBM) is at the bottom of the Dow today, last seen down 8.7% to trade at $167.95. There's a lot to unpack from Big Blue's quarterly report; first-quarter earnings topped estimates, but revenue fell short. The tech titan cited foreign exchange as a headwind for the rest of 2024, and agreed to buy cloud company HashiCorp (HCP) for $6.4 billion, or $35 per share. At least four price-target cuts followed, the worst coming from J.P. Morgan Securities to $185 from $190. Wedbush, meanwhile, hiked its ...