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IBM's 1st-quarter earnings hurt by reorganization charge; revenue slips amid hardware drop

NEW YORK, N.Y. - IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets. The world's largest technology services company has been working to expand into new areas as its hardware business falters, but the latest results show that these efforts have yet to fully pay off.

IBM's quarterly revenue sinks to 5-year low as hardware sales fall

By Supantha Mukherjee and Soham Chatterjee (Reuters) - IBM Corp, the world's biggest technology services company, reported its lowest quarterly revenue in five years on Wednesday, as Big Blue struggles with falling demand for its hardware and faces challenges in growth markets like China. Shares of IBM fell as much as 4 percent to $188.20 in after-hours trade. Revenue for the Armonk, NY-based firm fell 4 percent to $22.5 billion in the first quarter, below analysts' average estimate of $22.91 billion.

Mexican mobile phone operator sues IBM for $2.5 billion

By Nate Raymond NEW YORK (Reuters) - Mexican mobile phone operator Iusacell SA de CV sued IBM Corp on Wednesday, accusing the U.S. technology giant of making fraudulent representations that caused it to lose $2.5 billion in profits. The lawsuit, filed in federal district court in New York, centered on a contract that Iusacell said IBM induced it to enter into in Mexico.

IBM says Mexico's Iusacell sued to avoid complying with contract

(Reuters) - IBM Corp on Wednesday blasted a lawsuit filed by Mexican mobile phone operator Iusacell against the U.S. technology company as a "transparent attempt" to avoid complying with contractual obligations. IBM said in a statement that Iusacell has failed to pay IBM Mexico what it is owed under the contract. The software company's Mexican unit had previously filed an arbitration claim against Iusacell seeking to enforce the contract, the statement said.

IBM says Mexico's Iusacell sued to avoid complying with contract

(Reuters) - IBM Corp on Wednesday blasted a lawsuit filed by Mexican mobile phone operator Iusacell against the U.S. technology company as a "transparent attempt" to avoid complying with contractual obligations. IBM said in a statement that Iusacell has failed to pay IBM Mexico what it is owed under the contract. The software company's Mexican unit had previously filed an arbitration claim against Iusacell seeking to enforce the contract, the statement said.

Court of Appeals: IBM failed to help Indiana's needy, but state still owes company money

INDIANAPOLIS - IBM Corp. failed to deliver its part of a deal to privatize Indiana's welfare system, but the company is still entitled to nearly $50 million in fees that the state agreed to pay, the Indiana Court of Appeals found Thursday. The decision sends the four-year-old dispute between IBM and the Indiana Family and Social Services Administration back to the trial judge to work out the details. Among those details could be whether the state collects more than $175 million in damages.

IBM's CEO visits China for trust-building talks with govt leaders: sources

By Matthew Miller BEIJING (Reuters) - A slide in IBM Corp's <IBM.N> sales in China amid a broad backlash against claims of U.S. government spying has triggered a rare visit to Beijing by Chief Executive Officer Ginni Rometty.

IBM explores sale of semiconductor business: Financial Times

(Reuters) - IBM Corp is exploring the sale of its semiconductor business and has hired Goldman Sachs to find potential buyers, the Financial Times reported on Thursday, citing sources familiar with the matter. However, IBM is not committed to the idea of selling and could also seek a partner to set up a joint venture for its semiconductor operations, the report said. ( http://r.reuters.com/zyr66v) The report comes two weeks after IBM agreed to sell its low-end server business for $2.3 billion to Chinese PC maker Lenovo Group Ltd.

Twitter buys 900 patents from IBM, signs cross-license agreement

NEW YORK, N.Y. - Twitter says it has bought 900 patents from IBM and that the companies have entered into a cross-license agreement. Financial terms weren't disclosed. Ben Lee, the short messaging service's legal director, says the deal provides Twitter with greater intellectual property protection and freedom to innovate.

Twitter buys 900 patents from IBM, signs cross-license agreement

NEW YORK, N.Y. - Twitter says it has bought 900 patents from IBM and that the companies have entered into a cross-license agreement. Financial terms weren't disclosed. Ben Lee, the short messaging service's legal director, says the deal provides Twitter with greater intellectual property protection and freedom to innovate.
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