IBM Shares Continue Downfall

Shares of tech company IBM Corp. (IBM) slipped 7 percent on Tuesday's trading. The stock is continuing its downward trend since the past two days. On Tuesday, there has been no company-specific news that could hurt the stock. The fall is despite the company reporting second quarter results on Monday, which trumped the Street estimates.

Reports cited IBM's warnings that there could be a $3.5-billion hit from forex for the year due to a strong dollar.

Currently at $128.22, the stock has traded between $114.56 and $144.73 during the past 52 weeks.

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