Market Overview

IBM Shares Unmoved Despite Possible Major Asset Sales

Related IBM
The ABCs Point To More Downside For IBM
How To Profit From The Internet Of Things
What the Internet of Things Means to You (Fox Business)

Shares of IBM (NYSE: IBM) are steady after it was reported by Bloomberg Thursday that the company may be selling its chip manufacturing business to Globalfoundries.

If the deal goes through, IBM would likely get a small boost. According to Bloomberg, the chip manufacturing business loses the company $1.5 billion a year (last year’s net income was $16.5 billion). Globalfoundries is more interested in acquiring the intellectual property and engineers.

Shares of IBM last traded at $182.00 in the pre-market, 0.14 percent lower than Wednesday's close.

Posted-In: Bloomberg GLOBALFOUNDRIESNews Asset Sales

 

Related Articles (IBM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional