Stock Market Today, July 14: IBM Slides After Profit Warning Weighs on Dow

IBM shares plunged after the company issued a warning that Q2 revenue and earnings would miss expectations. CEO Arvind Krishna attributed the shortfall to customers shifting spending toward AI hardware instead of software services. Krishna admitted IBM faltered by failing to anticipate the magnitude of capex reprioritization and did not adapt quickly enough. Consequently, numerous large deals failed to close on expected timelines, leading to the company's current financial struggle and stock market slide.