IBM Common Stock (NYSE:IBM) shares are trading lower going into the close of Wednesday’s session after Morgan Stanley downgraded the stock from Overweight to Equal-Weight.
What Else?
IBM shares may also be falling during Wednesday’s session in sympathy with the broader market after U.S. retail sales slumped in December. Inflation and rising interest rates continue to weigh on U.S. economic growth.
On Wednesday, the Commerce Department reported U.S. retail sales dropped 1.1% on a monthly basis in December to $677.1 billion, missing economist estimates of a 0.8% decline.
The Commerce Department also revised its November monthly retail sales growth estimate lower…Read More
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IBM primarily sells software, IT services, consulting and hardware.
According to data from Benzinga Pro, IBM has a 52-week high of $153.21 and a 52-week low of $115.54.
