IBM is a true albatross around the neck of the Dow. How long until they boot Big Bleu out of it?
http://www.marketwatch.com/story/us-stocks-primed-to-edge-higher-as-earnings-stay-center-stage-2017-04-19
"IBM has an outsize impact because the Dow is price-weighted, meaning the most expensive stocks—rather than the largest companies—have the biggest pull. IBM is the fifth-most influential company in the 30-stock average by this metric, and contributed to a 57-point drag on the average.
'IBM is constantly disappointing, but it’s a nonplayer for me,' said Wayne Kaufman, chief market analyst at Phoenix Financial Services. 'There are a few companies that people look at to read the tea leaves of the market, but IBM isn’t one of them anymore.'"