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IBM loses quarter of its value as tech giant’s shares plunge and profits falter
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…
Louis Gerstner, man credited with turning around IBM, dies aged 83
Gerstner was chair and CEO at a time when the firm was struggling for relevance faced with rivals such as Microsoft Louis Gerstner, the businessman credited with turning around IBM, has died aged 83, the company announced on Sunday. Gerstner was chair and CEO of IBM from 1993 to 2002, a time when the company…