Closing Bell: IBM Gains, SOX falls

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Isabelle Lee, Carol Massar and Tim Stenovec

- IBM (IBM) shares gained after the company announced it has joined the OpenAI Daybreak Cyber Partner Program. 

- Avis (CAR) shares ended the day higher as the rental company is set to receive $650 million in cash as part of a settlement agreement with Pentwater Capital Management to resolve a lawsuit regarding short-swing profits, according to a filing.

- The Philadelphia Semiconductor Index (SOX) plunged 7.9% as semiconductor companies were hit with doubts about the sustainability of the AI-driven rally.

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