BUZZ-IBM falls after Accenture flags federal contract cancellations

Reuters

03-20

BUZZ-<a href="https://laohu8.com/S/IBM">IBM</a> falls after Accenture flags federal contract cancellations

** Shares of consultancy and IT software company International Business Machines IBM.N fall 3.2% to $244.27

** Rival Accenture ACN.N said the Trump administration's efforts to reduce federal spending have led to delays and cancellations of new contracts

** U.S. President Donald Trump will sign a long-anticipated executive order on Thursday that aims to shut down the Department of Education

** IBM offers AI solutions to various federal agencies including the U.S. Department of Education

** IBM did not immediately respond to a Reuters request for comment

** As of last close, IBM was up ~15% YTD

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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