Stocks look set to slide again at Monday’s open thanks to a disappointing earnings report from tech giant IBM, a member of the Dow Jones industrial average. Here’s what else you need to know about today.
1. Big Blue disappoints
IBM (IBM) reported sharply lower earnings for its third quarter as sales fell at several divisions. The world’s largest technology services company reported a 4 percent drop in quarterly revenue Monday, hurt by weak sales in its software and services businesses. Total revenue fell to $22.4 billion in the quarter ended Sept. 30 from $23.4 billion a year earlier. IBM also disclosed a deal to transfer its semiconductor operations to Globalfoundries for about $1.5 billion in cash.
2. Apple reports
iPhone maker Apple(AAPL) delivers its fourth-quarter results after the closing bell Monday. Every Apple analyst Fortune polled is calling for a record fourth quarter, according to Fortune’s Philip Elmer-DeWitt. The technology giant will also launch its new mobile payments service Apple Pay, having after the signed up another 500 banks to support the feature that competes with eBay’s PayPal and other online systems.
3. Microsoft’s smartwatch
Software maker Microsoft (MSFT) is preparing to launch a smartwatch within the next few weeks that will passively track a user’s heart rate and work across different mobile platforms, according to reports. The wearable gadget’s battery life will reportedly exceed two days of regular use.
4. Running for Reebok
A group of investors from Hong Kong and Abu Dhabi is reportedly preparing a bid for sportswear maker Reebok, which is currently part of Adidas, for $2.2 billion, according to The Wall Street Journal.
5. Andreessen leaves eBay board
Investor and Silicon Valley luminary Marc Andreessen says he’s stepping down from eBay’s board of directors. He announced his move on Twitter, saying it has been “an absolute privilege to serve” with eBay(EBAY) President and CEO John Donahoe, and others. “I could not be more proud of what we’ve accomplished,” he said.
—Reuters contributed to this report.
