Why IBM Stock Topped the Market on Tuesday
IBMIBM(IBM) The Motley Fool·2024-03-13 06:27

An apparent effort at trimming its workforce was the catalyst behind IBM (IBM 3.15%) stock's rise on the second trading day of the week. On reports that the storied tech company aims to reduce its headcount in certain divisions, investors traded the shares up by more than 3% on the day. That rate outpaced the performance of the S&P 500 index, which gained 1.1%. Job cuts apparently coming Citing an unnamed "person with knowledge of the matter," CNBC reported that IBM informed its marketing and communications ...