Interational Business Machines Corp.’s stock
is acting as a sea anchor for the Dow Jones Industrial Average
which would be indicated much higher if not for the stock’s tumble in premarket trade. IBM shares were shedding or $7.74, 4.6%, to $162.31 ahead of the open, after the technology giant reported late Tuesday first-quarter revenue that missed expectations. That would would shave about 53 points off the Dow’s price. Dow futures were up 26 points. IBM’s stock was on track to open at the lowest level since Dec. 7.