IBM downgraded to neutral

... target for the stock to $200 from $220. On June 12, the company cut 697 people from the payrolls of its two Dutchess County sites, in Poughkeepsie and East Fishkill. It is the largest job cut since at least 2009. The company remains the largest ...

http://www.poughkeepsiejournal.com/viewart/20130710/BUSINESS/307100017