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Actionable news in IBM: INTERNATIONAL BUSINESS MACHINES CORPORATION,

IBM Stock Falls, SEC Probes Revenue Recognition

NEW YORK (TheStreet) -- International Business Machines Corp. (IBM - Get Report) stock is lower by 2.93% to $139.45 on heavy trading volume on Tuesday after the company disclosed it is being investigated by the Securities and Exchange Commission for the way the company reports revenue on some transactions.

So far today, 8.46 million shares of IBM have exchanged hands, compared with its average daily volume of 4.31 million shares

"In August 2015, IBM learned that the SEC is conducting an investigation relating to revenue recognition with respect to the accounting treatment of certain transactions in the U.S., U.K. and Ireland," the company said in a filing.

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"IBM has a rigorous and disciplined process for the preparation of its financial statements and the reporting of revenue," IBM said today in a statement. "We are confident that the results and information we report have been appropriate and consistent with...


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