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IBM caught up in Accenture rout

June 28, 2013: 11:31 AM ET

IBM was dragged down after rival Accenture cut its forecast.

Shares of IBM fell sharply Friday, part of the fallout from Accenture's weak outlook.

Both companies are heavily invested in data analysis so any sign of weakness from either one raises worries about a broader slowdown in the sector.

Accenture cut its earnings outlook for the year and trimmed its revenue forecast for the fourth quarter.

A slew of analysts were quick to downgrade Accenture.

That doesn't bode well for Accenture's rivals, including IBM and Cognizant (CTSH).

The sell-off in IBM shares was also weighing on the Dow Friday -- the last day of an otherwise rocky quarter.

All of that gave StockTwits users plenty to ponder.

howardlindzon
$IBM and $AAPL are not good things to have so weak in a global stressful environment. I prefer them steady

Just what I was thinking today. Apple (AAPL) just can't seem to stay above $400 and today, it's close to touching a new 52-week low. Innovation is the name of the game there.

AnalystWire
UBS Cuts Accenture ($ACN) to Neutral Following Q3; Notes Risk at IBM ($IBM)http://stks.co/tIMK

Yeah, UBS was just one of a number of analysts to come out with some words of caution for investors. Now might be a good time to tap on those breaks.

TraderRL23
$VIX +3% $IBM -3% Bearish

Hmm, that's an interesting comparison but let's look a little further out. The VIX is up more than 30% this quarter, while IBM is down less than 10%.

ep_capital
$IBM off sharply, will weigh heavily on $DJIA $YM_F $DIA

That's just unfortunate timing. Stocks have been under pressure for most of the day, with IBM the biggest drag on the Dow 30.

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Catherine Tymkiw
Catherine Tymkiw
News Editor CNNMoney

Catherine Tymkiw is a news editor at CNNMoney where she helps oversee breaking news coverage and futures planning. Previously, she was the investing editor. Prior to joining CNNMoney, she was the online editor at Crain's New York Business and has nearly two decades of reporting and editing experience. She tweets @ctymkiwcnn

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Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, $UA is big momo stock. And it's off lows of day. But still not sure why it's down this much on strong #s.
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