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IBM Shares Unmoved Despite Possible Major Asset Sales

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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

 

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