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Closing Bell: IBM Gains, SOX falls
Description
On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Isabelle Lee, Carol Massar and Tim Stenovec
- IBM (IBM) shares gained after the company announced it has joined the OpenAI Daybreak Cyber Partner Program.
- Avis (CAR) shares ended the day higher as the rental company is set to receive $650 million in cash as part of a settlement agreement with Pentwater Capital Management to resolve a lawsuit regarding short-swing profits, according to a filing.
- The Philadelphia Semiconductor Index (SOX) plunged 7.9% as semiconductor companies were hit with doubts about the sustainability of the AI-driven rally.
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