Under pressure to boost margins, IBM is set to make what it calls a "major business announcement" Monday morning, an indication that it has finalized a deal to transfer chip-making operations to GlobalFoundries.
IBM announced Sunday that it would be issuing its quarterly earnings statement early Monday, moving it up from its previous schedule, timed for after the close of markets. The company said it would also separately make a business announcement.
Although some brand it as "all gravy" and clever marketing, analysts agree that Apple's deal with IBM will benefit both sides.
Apple CEO Tim Cook, in a television interview with CNBC about Apple's newest partnership with IBM, said, "It's profound. It's historic. It's landmark."
IBM is worried that the age of silicon may be drawing to a close. So it’s going to spend $3 billion over the next half-decade to try and find new ways to power the future generations of microprocessors.
An IBM shareholder has decided to drop a lawsuit filed against the company alleging its cooperation with the U.S. National Security Agency (NSA) in a cyberspying scheme had resulted in a loss of business in China.
The Louisiana Sheriffs' Pension & Relief Fund had alleged the loss of Chinese business caused IBM's market value to dip by nearly US$13 billion, and sued Big Blue for failing to reveal its involvement in NSA cyberspying program.
A pension and relief fund that sued IBM for failing to warn investors of loss of business in China because of its alleged involvement with spying by the U.S. National Security Agency has voluntarily withdrawn the lawsuit in a New York court.
The Louisiana Sheriffs’ Pension and Relief Fund has decided to voluntarily dismiss the action after additional investigation into the matters alleged, which included investigations in the U.S. and China and discussions with the defense counsel, John C. Browne, lawyer for the fund, wrote to the court in a letter disclosed Monday.