IBM Miss Causes Other Tech Stocks To Indicate Lower Open

Shares of International Business Machines Corp. IBM are trading sharply lower in Monday’s pre-market session following the company’s report of its third quarter 2014 financial results.

IBM reported EPS of $3.68/share missing Street estimates by 14.81 percent and reported revenue of $22.4 billion; missing estimates by 970 million.

Shares of IBM recently traded at $169.77 down 6.7 percent.

Following the announcement other technology stocks are trending lower:

Oracle Corporaton ORCL down 1.74 percent
Hewlett-Packard Company HPQdown 1.2 percent
Microsoft Corporation MSFT down 0.76 percent.
Intel Corporation INTC down 0.73 percent
QUALCOMM Inc. QCOM down 0.25 percent