IBM International Business Machines Corp

International Business Machines Corporation (IBM) closed at $134.05, down $11.07 or 7.6%.

-- Lowest close since Feb. 29, 2016, when it closed at $131.03

-- Largest percent decrease since April 19, 2013, when it fell 8.3%

-- On Tuesday, IBM reported that third-quarter profit fell 1.2% to $2.69 billion. Excluding some acquisition-related and retirement-benefit charges, IBM posted earnings of $3.42 a share. Analysts expected adjusted profit of $3.40 a share.

-- Earlier Wednesday, IBM's price target was cut to $140 a share from $152 a share by Cantor Fitzgerald, and to $164 a share from $172 a share by BMO Capital, Benzinga reported.

-- Down 12.63% year-to-date; on pace for worst year since 2015 when it fell 14.22%

-- Down 15.97% from 52 weeks ago (October 18, 2017), when it closed at $159.53

-- Down 20.74% from its 52-week closing high of $169.12 on Jan. 18, 2018

-- New 52-week closing low

-- Traded as low as $133.42; lowest intraday level since March 2, 2016, when it reached $133.22

-- Down 8.06% at today's intraday low; largest intraday percent decrease since Oct. 20, 2014, when it fell as much as 8.44%

-- Today's preliminary volume is 18.9 million shares, highest since Sept. 21, 2018, when 19.9 million shares were traded

-- Worst performer in the DJIA on Wednesday

-- Worst performer in the S&P 500 on Wednesday

-- Subtracted 75.06 points from the DJIA on Wednesday

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

October 17, 2018 16:50 ET (20:50 GMT)

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