IBM Up Over 7% After Spin Off Announcement -- Data Talk

International Business Machines Corporation (IBM) is currently at $133.27, up $9.20 or 7.42%

-- Would be highest close since June 8, 2020, when it closed at $135.75

-- On pace for largest percent increase since April 6, 2020, when it rose 7.97%

-- IBM plans to spin off its business of managing clients' information-technology infrastructure, as the 109-year-old tech pioneer sharpens its focus on the faster-growing cloud-computing business and artificial intelligence. The company said the soon-to-be-named company already has relationships with 4,600 clients in 115 countries and operates in what it sees as a $500 billion market opportunity

-- Currently up three of the past four days

-- Currently up two consecutive days; up 9.26% over this period

-- Best two day stretch since the two days ending March 25, 2020, when it rose 11.69%

-- Up 9.53% month-to-date

-- Down 0.57% year-to-date; on pace for worst year since 2018, when it fell 25.91%

-- Down 38.24% from its all-time closing high of $215.80 on March 14, 2013

-- Down 5.57% from 52 weeks ago (Oct. 10, 2019), when it closed at $141.13

-- Down 14.98% from its 52-week closing high of $156.76 on Feb. 6, 2020

-- Up 40.62% from its 52-week closing low of $94.77 on March 23, 2020

-- Traded as high as $135.50; highest intraday level since June 8, 2020, when it hit $135.88

-- Up 9.21% at today's intraday high; largest intraday percent increase since March 24, 2020, when it rose as much as 11.89%

-- Best performer in the DJIA today

-- Best performer in the S&P 500 today

-- Fourth most active stock in the S&P 500 today

-- Contributed 60.53 points to the DJIA so far today

All data as of 10:18:08 AM

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

October 08, 2020 10:43 ET (14:43 GMT)

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