IBM issued profit warning after weak second quarter, triggering selloff in software sector including Microsoft Shares in IBM plunged more than 25% on Tuesday after the US tech giant released disappointing preliminary second-quarter results. IBM’s stock was on track for an even steeper single-day decline than it suffered during ⁠the 1987 “Black Monday” crash. IBM had issued a profit warning and blamed shifts in corporate customers’ spending. The company said revenue for the three months ending in June came in at $17.2bn, up just 1% year-over-year. Continue reading...