IBM shares down 7% in a broadly positive market

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(Close): A 7% slump for shares in IBM was the most eye-catching move among US shares but the broader market ended the day higher.

IBM had said it would not meet 2015 earnings targets.

That dented the Dow Jones early on but the index ended the day 0.12% or 19.26 points higher 16,399.67 at the close.

IBM also announced that is paying Globalfoundries $1.5bn to take control of its loss-making computer chip making business.

The broader S&P 500 was up 17.25 or 0.91% at 1,886.76, and the Nasdaq was up 1.35% or 57.64 points at 4,316.07.

Halliburton shares were initially 2% higher after the oilfield services company reported stronger-than-expected quarterly results but lost some of those gains to end the day just 0.61% higher.

Halliburton has been helped by the boom in the US shale gas industry. Sales in North America jumped 22% in its third quarter.