Premarket Movers | IBM Rises More Than 3% After Trump Praises CEO Arvind Krishna's Leadership

Tiger Newspress06-23

IBM climbed over 3% in Tuesday pre-market trading. Newswise, on Monday U.S. time, President Donald Trump praised IBM CEO Arvind Krishna's leadership while signing a quantum computing executive order at the White House. The remarks drew market attention, as Trump's previous public endorsement of Dell had sparked an intraday surge of more than 14% in its shares, reinforcing a short-term trading theme around so-called "Trump stocks."

Trump also joked that selling his IBM holdings before taking office "was not a smart decision," further boosting positive sentiment toward the company and increasing investor focus on IBM.

In addition, IBM joined the OpenAI Daybreak Cyber Partner Program and unveiled an enterprise-grade application security service powered by OpenAI models to identify and validate software vulnerabilities. By pairing OpenAI's generative AI with IBM's security know-how, the partnership is viewed favorably by the market as a growth driver in AI security.

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