The Ratings Game: Morgan Stanley reverses IBM upgrade after 9 months as stock outperforms broader market

The Ratings Game: Morgan Stanley reverses IBM upgrade after 9 months as stock outperforms broader market

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International Business Machines Corp. shares underperformed the broader market Wednesday after Morgan Stanley reversed a nine-month upgrade on Big Blue’s stock after a defensive bet paid off. IBM IBM, shares fell 3% as the Dow Jones Industrial Index DJIA, declined 1.3%, the S&P 500 index SPX,…

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