IBM Shares Fall as It Reports 13th Straight Quarter of Declining Sales

IBM (IBM) is trying to reinvent itself as a modern technology innovator but it's proving to be a tough challenge. The company reported its 13th straight quarter of sales decline. IBM said second quarter revenue fell 13.5 percent on the impact of the strong U.S. dollar and declines in its software unit. Revenue from IBM's cloud business rose 70 percent in the quarter while revenue from analytics gained 20 percent for the same time period, according to the company's CEO. Analysts have mixed feelings about IBM. Some say the investments in new technology just haven't paid off yet but others say IBM is spending too much money and taking too long for the transition. IBM is up 8 percent year to date but has been in a trading range of $150 to $175 a share for 9 months.