00:00It's Benzinga bringing Wall Street to Main Street
00:02IBM shares fell more than 3 percent, Wednesday as possible profit-taking weight on the stock,
00:07following a roughly 40 percent rally since late July, according to Benzinga Pro.
00:11The decline came as the broader technology sector moved higher, with the Technology
00:15Select Sector SPDR fund gaining 0.81 percent.
00:19IBM also said its Anderon unit finalized a $1 billion Chips and Science Act award with
00:24the U.S. Department of Commerce.
00:26The funding will support research and development at Anderon's 300mm Quantum Wafer Foundry in
00:31Albany, New York.
00:32IBM is separately investing another $1 billion in the venture.
00:36Shares were down 3.17 percent to $240.50 at the time of publication on Wednesday, according
00:43to Benzinga Pro.
00:44For all things money, visit Benzinga.com.
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