International Business Machines is trading 5.75% lower at $237.10 after adjusted gross margin came in below expectations following its October 21 earnings release. - The company beat third-quarter earnings and revenue estimates and raised its free-cash-flow outlook, but kept full-year revenue growth guidance at 4%–5%. That may have tempered the earnings beat. - CNBC reported shares slipped in extended trading after results; major U.S. indices were down more than 0.5% pre-market, adding broader risk-off pressure.