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Wednesday, October 16, 2013

IBM (IBM) Stock Dropping After Earnings

Shares of IBM (IBM) dropped hard tonight after the company reported a slight earnings beat but missed revenue estimates by $1.07 Billion.  IBM usually delivers solid results but the last two earnings report were lackluster.  Shares of IBM are trading at $176, down 6% on heavy volume.

IBM stock needs to hold $170-$172 or shares will hit a 2-year low.  Resistance is located at $180.

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