WS #12084
IBM preliminary Q2 results miss estimates, stock plunges 25% wiping out $67B market cap, citing enterprise software budget cuts to fund AI hardware. June CPI falls 0.4% month-over-month, annual rate 3.5% vs 3.8% expected, reducing Fed rate hike probability for July meeting.
IBM Profit Warning
IBM preliminary Q2 results miss estimates, stock plunges 25% wiping out $67B market cap, citing enterprise software budget cuts to fund AI hardware.
June CPI falls 0.4% month-over-month, annual rate 3.5% vs 3.8% expected, reducing Fed rate hike probability for July meeting.