IBM Drops After Revenue Declines for 13th Straight Quarter - Bloomberg Business

IBM's transformation continues; also see IBM Revenue Falls 13% Despite Big Gains in New Fields (NYT)

"As demand has tumbled for products across all of IBM’s major segments -- services, software and hardware -- Rometty has divested unprofitable businesses and invested in creating new units around cloud computing and the Watson data-analytics tool. Still, the new isn’t growing fast enough to offset the declines of the old.
“The falloff in IBM’s traditional businesses is dwarfing the company’s ability to capture new revenue opportunities as the market shifts,” Toni Sacconaghi, an analyst at Sanford C. Bernstein & Co. wrote in a note Monday before the results were announced."

IBM Drops After Revenue Declines for 13th Straight Quarter - Bloomberg Business