Dow Jones07-14 22:06
Shares of IBM are headed for their worst day since the "Black Monday" market crash of 1987.
The stock plunged some 24% in morning trading after the company issued a profit warning. IBM said the performance of its software and infrastructure business fell short of expectations in the second quarter, and the company didn't react quickly enough to the changing market conditions.
Its official earnings release is scheduled for next week.
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