WS #12071
IBM shares plunge over 25% after Q2 revenue miss ($17.2B vs $17.86B est.) and profit warning; worst single-day drop in history; cybersecurity stocks rally on rotation. June CPI fell 0.4% MoM, annual rate dropped to 3.5% vs 3.8% expected, largest monthly decline since April 2020; July rate hike probability collapses.
IBM Catastrophic Earnings Miss
IBM shares plunge over 25% after Q2 revenue miss ($17.2B vs $17.86B est.) and profit warning; worst single-day drop in history; cybersecurity stocks rally on rotation.
June CPI fell 0.4% MoM, annual rate dropped to 3.5% vs 3.8% expected, largest monthly decline since April 2020; July rate hike probability collapses.