The drop comes after IBM’s stock plummeted over 13% on Monday, its worst single-day performance since October 2000, and added to the AI-driven selloff weighing on stock and crypto markets.
Traders are now looking ahead to a key Anthropic event on Tuesday, where new product announcements and demonstrations of Claude’s latest features are expected.
Big Blue’s stock nosedived over 13% on Monday after Anthropic announced that its Claude Code tool can help modernize COBOL, a programming language that runs on IBM computers.
International Business Machines Corp. shares plunged 13% after Anthropic said its Claude Code AI tool could accelerate COBOL modernization, sparking investor fears that AI may disrupt IBM's legacy mainframe and consulting business despite the company's recent earnings beat.
In a blog post, Anthropic said that tools like its Claude Code can automate the exploration and analysis phases in Common Business-Oriented Language modernization.
Shares of technology and consulting giant IBM (NYSE:IBM) fell 4% in the morning session after the Trump administration's announcement of new global tariffs, reignited trade policy uncertainty. The move came swiftly after the Supreme Court ruled the previous week that the president could not use the International Emergency Economic Powers Act (IEEPA) for such duties, a decision that had initially sent markets higher. However, the administration invoked a different authority, the Trade Act of 1974, to impose a 15% global tariff for up to 150 days. The rapid reimposition of trade barriers creates significant uncertainty for companies across multiple sectors that depend on international supply chains and global trade. Investors are now weighing the potential impact of these new duties on corporate earnings and broader economic activity.
As the financial world pivots toward the first major semiconductor earnings of 2026, all eyes are on Broadcom Inc. (NASDAQ: AVGO), which is scheduled to report its first-quarter fiscal year 2026 results on March 4, 2026. Heading into the announcement, the sentiment on Wall Street is nothing short of euphoric.
SANTA CLARA, CA — Shares of Palo Alto Networks (NASDAQ: PANW) faced a sharp reversal this week, sliding nearly 8% in heavy trading after the cybersecurity giant issued a cautious profit outlook that overshadowed a revenue beat for its fiscal second quarter. The decline follows a flurry of price target cuts
International Business Machines (NYSE: IBM) has officially signaled the completion of its decade-long transformation, reporting a blockbuster fourth-quarter earnings beat that highlights its emergence as a software-first, artificial intelligence powerhouse. For the quarter ending December 31, 2025, the company reported revenue of $19.69 billion—a 12% year-over-year increase—shattering
Alphabet Inc. (NASDAQ: GOOGL) has officially entered uncharted territory, reporting a fiscal year 2025 that saw the tech giant surpass $400 billion in annual revenue for the first time in its history. This milestone was propelled by a staggering 48% year-over-year surge in Google Cloud revenue during the fourth quarter,
In a bold move to reverse a year of staggering market losses, activist investor JANA Partners has disclosed a significant stake in Fiserv (NYSE: FI). The hedge fund is stepping in to champion a series of strategic shifts aimed at revitalizing the payments and fintech giant, which has seen its
In late January 2026, Apple Inc. (NASDAQ: AAPL) once again silenced skeptics by reporting a record-shattering $143.8 billion in quarterly revenue, marking its most successful holiday season in history. This milestone, driven by a massive "AI supercycle" for the iPhone 17 and a burgeoning high-margin services business, has propelled
