International Business Machines Corp.’s stock slumped 3% in afternoon trade Tuesday, after the technology company disclosed that the Securities and Exchange Commission was conducting an investigation into its revenue recognition practices. The SEC probe, which IBM said it learned about in August, is regarding the accounting treatment of certain transactions in the U.S., U.K. and Ireland. IBM said it was cooperating with the SEC in the investigation. The stock has lost 13% year to date, while the Dow Jones Industrial Average has slipped 1.4%.
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