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The euro hovered near a two-month high while U.S. stocks moved sideways on Monday as worries about the pace of a U.S. economic recovery kept markets cautious. After Friday's worst one-day drop since late June, the S&P and other U.S. stock indexes opened higher as earnings season kicked into high gear, but weak homebuilding data reminded investors of the delicate state of the economic recovery.

Wall Street was set for a bounce on Monday, following a sharp fall in the previous session, when disappointing revenue from bellwethers reporting results, and downbeat consumer sentiment data, hurt equities.

Wall Street was set for a bounce on Monday, following a sharp fall in the previous session, when disappointing revenue from bellwethers reporting results, and downbeat consumer sentiment data, hurt equities.

IBM is in danger of missing average Wall Street estimates for its second-quarter revenue as the weaker euro dents sales in Europe, which counts for about 30 percent of its revenue.

Infosys Technologies edged up its forecast on a revival in outsourcing demand from its mainstay financial clients, but its shares fell as markets worried a weak European economy could curb orders.

Fujitsu Ltd, Japan's biggest IT services provider, said on Friday it plans to boost investment in cloud computing by 54 percent this year to beef up its operations in one of the IT sector's hottest areas.

Former IBM Corp executive Robert Moffat, who admitted to charges of insider trading in the Galleon hedge fund probe, told Fortune magazine that his affair with co-defendant Danielle Chiesi was more about business than sex.

Global IT group IBM will defend itself from the state government's attempt to withhold payments following the Queensland Health payroll fiasco.

IBM has filed a lawsuit to prevent former senior executive Joanne Olsen from taking a job with rival Oracle Corp , which wooed her away from IBM after 31 years with the company.

Hewlett-Packard Co said it aims to boost margins by cutting jobs and reallocating spending to more profitable technology services, shrinking its workforce by a net 3,000 jobs, or 1 percent, over three years.

Hitachi Ltd , Japan's largest electronics maker, will focus investments on infrastructure-related businesses such as power plants as it seeks to more than double its profit over the next three years.

Hewlett-Packard Co overtook IBM as the world's top server maker by sales during the first quarter as customers held off on buying equipment from IBM before new product launches, a research firm said on Tuesday.

IBM plans to buy Sterling Commerce from AT&T Inc for about $1.4 billion in cash to expand its portfolio of software for companies in financial services, manufacturing and retail.

International Business Machines Corp said on Monday it has agreed to buy business software integration services company Sterling Commerce from AT&T Inc for about $1.4 billion in cash.

Hewlett-Packard Co is preparing a broad push to make it easier to print images and information from the Internet, building an iPhone-style apps market in the process, the head of the company's imaging group said on Wednesday.

In the movie Ironman 2, Larry Ellison makes a cameo appearance as a billionaire, playboy software magnate. It is a role he knows well. He is playing himself -- chief executive of Oracle Corp, one of Silicon Valley's most enduring, successful and flamboyant figures.

Asian stocks rose on Thursday as fresh austerity measures promised by Spain and Portugal gave investors hope that Europe's debt crisis can be contained, while IBM's strong profit forecast gave a further boost to tech shares.

IBM forecast roughly doubling its profit by 2015 as it pushes further into emerging markets and lucrative services and software businesses, sending its shares up over 4 percent and boosting investor confidence in the tech sector.

IBM said it expects its profit to roughly double to more than $20 a share by 2015, helped by growth in emerging markets as well as the company's push into high-margin technology services and software businesses.

U.S. stock indexes rose more than 1 percent on Wednesday, boosted by gains in materials and technology shares and after Spain unveiled an austerity plan that further eased jitters over euro-zone sovereign debt woes.

IBM said it expects its profit to nearly double to over $20 a share by 2015, helped by the company's push into profitable technology services and software businesses.

IBM said it bought privately held software company Cast Iron Systems to bolster its expertise in cloud computing, an increasingly popular technology that helps companies cut costs by enabling access to software online.

Fewer than a third of office workers said their buildings are environmentally friendly, according to the poll of 6,486 office workers conducted for IBM Corp.

IBM raised its full-year outlook and reported stronger-than-expected quarterly results as companies increased spending on software and IT consulting, but the news failed to excite investors who had already begun to price in a strong recovery.

IBM nudged up its outlook for the full year and reported stronger-than-expected results as more companies bolstered spending on software and consulting on hopes of a sustained recovery for the technology sector.

IBM raised its full-year outlook and reported stronger-than-expected quarterly results as companies increased spending on software and IT consulting, but the news failed to excite investors who had already begun to price in a strong recovery.

Stocks futures fell on Monday, pointing to a weaker start for Wall Street, on lingering concerns over fraud charges against Goldman Sachs weighing on investor sentiment.

Asian stocks rose and neared 22-month highs on Thursday after U.S. tech and financial firms beat earnings forecasts and China's accelerating economic growth underpinned hopes of a broad, global economic recovery.

Option investors on Wednesday appeared to be taking bullish positions in IBM , hoping the tech bellwether will deliver upbeat earnings next week after Intel's results impressed.