IBM earnings miss points to poor quarter in hardware sector: analysts

(Reuters) - Atleast five brokerages cut their price targets on IBM Corp shares and warned its weak earnings suggested results would also be disappointing at other hardware technology companies such as EMC Corp, Dell Inc and HP Co. IBM's shares fell 8 percent to a three-month low of $190.56 on the New York Stock Exchange on Friday. IBM posted on Thursday a rare quarterly earnings miss as a sliding yen hurt earnings from Japan and it failed to close a number of major deals, especially in Europe and the United States. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/ibm-earnings-miss-points-poor-quarter-hardware-sector-114530387--sector.html