IBM’s Sales Slump Turns Stock Into Dow’s Lone Loser of 2013
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International Business Machines Corp., the world’s largest provider of computing services, hasn’t convinced investors that it can pull out of a sales slump, sending the stock to its first annual decline since the financial crisis in 2008.
Even as the company boosted its dividend and added about $20 billion to its buyback plan, the stock became the only loser in the Dow Jones Industrial Average this year. The shares dropped 2.1 percent this year, compared with a 26 percent gain for the index.