Market Overview

IBM Shares Unmoved Despite Possible Major Asset Sales

Related IBM
IBM Miss Causes Other Tech Stocks To Indicate Lower Open
Technology, Energy and Inflation Protected ETFs To Watch This Week
Making Money With Charles Payne: 10/17/14 (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...

Get Benzinga's Newsletters