IBM shares down as much as 5.6% after hours
Software and consulting giant IBM warned that profits this year will trail estimates in a gloomy sign for the global economy.
The company sees earnings this year in the $14.75-$15.75 range compared to $15.75-$16.50 previously and the $15.68 Wall St estimate.
In the earnings call, CFO Martin Schroeter said the software business was weaker towards the end of the quarter.
The decline in shares is likely to weigh on broader US indexes on Tuesday but it's really a story about one company's struggles rather than sluggish global growth.
