Wall Street Breakfast: Must-Know News Jan. 22, 2014 6:33 AM ET | Includes: ABB, ASML, DISH, IBM, MS, OBGRF, OMED, QQQ, REXX, SBNY, SPY, YHOO
IBM's (IBM) net profit rose 6% to $6.19B in Q4, but shares dropped 3.4% after revenue fell a greater-than-expected 5.5% to $27.7B, hurt by a continuing slump in hardware sales. IBM's adjusted EPS came in at $6.13, although the figure was lifted by $5.8B of buybacks. The company, which has already carried out a string of job cuts in recent quarters, expects to record a fresh workforce re-balancing charge of $1B in Q1.
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