IBM’s earnings slipped in Q3, sending its share prices sliding 7.11 percent to close Monday at $169.10. The company announced it is unloading its Microelectronics OEM semiconductor business and manufacturing operations to GlobalFoundries. IBM will pay GlobalFoundries $1.5 billion to take over the business. The deal will close in 2015. IBM’s bleak news is being blamed for sending the overall Dow Jones Industrial Average south. Areas IBM has picked for its new strategic focus are doing well, however.
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IBM's Earnings Miss Gives Wall Street the Willies
Posted by: Richard Adhikari October 20, 2014 02:13 PMIBM’s earnings slipped in Q3, sending its share prices sliding 7.11 percent to close Monday at $169.10. The company announced it is unloading its Microelectronics OEM semiconductor business and manufacturing operations to GlobalFoundries. IBM will pay GlobalFoundries $1.5 billion to take over the business. The deal will close in 2015. IBM’s bleak news is being blamed for sending the overall Dow Jones Industrial Average south. Areas IBM has picked for its new strategic focus are doing well, however.