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5 Companies That Had A Rough Week

For the week ending April 20, CRN looks at IT companies that were unfortunate, unsuccessful or just didn't make good decisions.

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IBM's Stock Hammered After Full-Year Guidance Fails To Meet Expectations

IBM's stock plunged more than 7.5 percent Wednesday, despite a healthy first-quarter sales and earnings report, when the company's earnings guidance of $13.80 per share for all of 2018 failed to impress shareholders.

The Investopedia web site said the drop in the company's stock was the biggest in four years. It also showed that Wall Street remains skeptical of IBM's progress in its efforts to reinvent itself.

On Tuesday IBM reported its second consecutive quarterly revenue increase, after five years of revenue declines, and earnings that exceeded Wall Street's expectations.

But the company did not raise its guidance for the rest of the year, citing disappointing sales in the vendor's systems business due to declining storage system sales. Traders punished IBM's stock the next day as a result.

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