IBM Shares Unmoved Despite Possible Major Asset Sales

Shares of IBM 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. The potential loss of these assets may be the cause for no change in share price.

Shares of IBM last traded at $182.52, 0.1 percent higher than Thursday’s close.