International Business Machines Corp. reported better-than-expected second-quarter results after the stock market closed on Monday, which were described as “solid” and “reasonable” by some analysts.
Despite the earnings beat, the stock IBM sank 6.4% to in midday trading Tuesday, as others on Wall Street questioned the “quality” of the results decelerating growth. The stock’s selloff bucked a rally in the broader stock market, as the Dow Jones Industrial Average DJIA surged more than 500 points.
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