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IBM earnings miss forecast; firm to pay $1.5 billion to shed chip unit
IBM earnings miss forecast; firm to pay $1.5 billion to shed chip unit

IBM Corp. disappointed investors Monday, reporting weak revenue growth again and a big charge to shed its costly chip-making division as the tech giant tries to steer its business toward cloud computing and social-mobile services. Is it too late for IBM? Or can Big Blue weather the competition as it transforms its business for the cloud? Remaking itself is something IBM has done many times through its long history. Starting more than a century ago in punch-card tabulators and time clocks, it grew to encompass the giant mainframe computers and Selectric typewriters of the 1960s and launched its revolutionary personal computer in the 1980s. But by the early 1990s, its early lead in...

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