Mackenzie Tatananni

IBM stock was heading for its largest same-day plunge in nearly 40 years on Tuesday after the company’s preliminary second-quarter adjusted earnings and revenue missed analysts’ targets. In a letter to shareholders, CEO Arvind Krishna explained that the shortfall was largely driven by the company’s infrastructure business. “What played out was worse than our expectations,” Krishna wrote.

Mackenzie Tatananni IBM stock was pacing toward its worst day ever on Tuesday after the company's preliminary second-quarter earnings missed analysts' targets.

HSBC downgrades IBM shares to the equivalent of Sell, pointing to better investment opportunities in a basket of stocks including IonQ and Accenture.

Mackenzie Tatananni Even before IBM's bleak earnings pre-announcement sent shares into a tailspin, one firm had already slashed its rating

HSBC downgrades IBM shares to the equivalent of Sell, pointing to better investment opportunities in a basket of stocks including IonQ and Accenture.

Johnson & Johnson raised its full-year guidance on the back of better-than-expected second-quarter earnings as strength in its oncology portfolio helped offset falling sales for its former blockbuster drug, Stelara. The drugmaker on Wednesday reported adjusted earnings of $2.90 a share, beating the $2.85 a share analysts had anticipated. J&J logged $25 billion in sales, in line with Wall Street estimates and up 6% from the same period last year.

Mackenzie Tatananni Johnson & Johnson's second-quarter earnings were met with a shrug on Wall Street, but one of the drugmaker's top executives insists the most powerful growth drivers are just starting to pick up speed.

Johnson & Johnson’s second-quarter earnings were met with a shrug on Wall Street, but one of the drugmaker’s top executives insists the most powerful growth drivers are just starting to pick up speed. J&J on Wednesday reported adjusted earnings of $2.90 a share, beating the $2.85 a share analysts had anticipated. “I think the second quarter was just an affirmation of the first quarter,” Chief Financial Officer Joe Wolk said in an interview with Barron’s. “Our pharmaceutical unit continues to thrive, surpassing $16 billion in sales for the first time ever in the company’s history.”

Mackenzie Tatananni As Sony Group aggressively reshapes its business—eyeing a digital-only gaming future and a push into U.S. stablecoins—its CEO has unloaded more than half of his direct holdings in the conglomerate.

Sony CEO Hiroki Totoki sold more than half of his direct holdings in the conglomerate as it unveils two new initiatives.