International Business Machines Corp.’s negotiations to sell parts of its server division to Lenovo Group Ltd. broke down after the two sides couldn’t agree on a price, said a person familiar with the discussions.
Most emerging-market stocks fell as weaker growth in Chinese manufacturing overshadowed monetary easing in Europe and the prospect of interest-rate cuts in India. Brazil’s Ibovespa dropped for the first time this week.
Asian stocks fell for a second day after weaker growth in U.S. payrolls and manufacturing added to evidence of a slowdown in the world’s largest economy and as the yen rose, curbing the earnings outlook for Japanese exporters.
International Business Machines Corp. Chief Executive Officer Ginni Rometty, facing more skeptical investors after the company missed quarterly earnings estimates for the first time in eight years, said she remains confident about reaching long-term profit goals.
China Wireless Technologies Ltd., the nation’s third-largest smartphone vendor, said it will eventually overtake market leaders Samsung Electronics Co. and Lenovo Group Ltd., helped by demand for low-cost phones.
International Business Machines Corp. reassigned the head of its hardware division to a new role, a person familiar with the matter said, making a change after a 17 percent drop in the division’s sales last quarter.