Zacks isn’t expecting a glowing earnings report from IBM (NYSE: IBM) on Thursday. And the financial website has many reasons.

“We expect IBM to report modest results due to sluggish IT spending partially offset by robust growth from its key growth initiatives,” Zacks wrote in its earnings revenue.

“It is true that IBM has been one of the most consistent performers over the last one year, outperforming the S&P 500 by approximately 19.0%. However, modestly slower IT growth, primarily due to volatile macroeconomic conditions; a high level of unemployment; continuing European debt crisis and unfavorable foreign exchange fluctuations are expected to negatively impact the forthcoming quarters.”

Read more here.

In other news:

• IBM has a new name and a new strategy for its Lotus Live.

Read details here.

• The New York Times concludes that IBM’s social computing strategy is “smarter.”

Read details here.

IBM employs some 10,000 people across North Carolina. 

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