NEW YORK, December 31, 2025, 18:22 ET — After-hours
- IBM shares were down 1.9% at $296.21 in after-hours trading after the year’s final regular session.
- Wall Street ended 2025’s last session lower in holiday-thin trade, with markets closed Thursday for New Year’s Day.
- Two IBM directors filed amended insider reports tied to deferred board fees, filings showed.
International Business Machines Corp shares fell 1.9% to $296.21 in after-hours trading on Wednesday after sliding in the year’s final session, according to market data.
The move capped a subdued finish to 2025 for U.S. stocks, with the S&P 500 down 0.74% and the Dow off 0.63% in the final session as trading volumes stayed light and markets prepared to close on Thursday for New Year’s Day, Reuters reported.
“In any bull market” it is “perfectly fine” to see bouts of profit-taking when liquidity is low, Giuseppe Sette, co-founder and president of Reflexivity, said. Reuters
Tech stocks were among the day’s laggards, Reuters reported, and heavyweight Microsoft ended down 0.8% in regular trading, underscoring how a late-year rotation can pressure the sector even after a strong annual run.
For IBM, investors also had fresh disclosures on the tape. A Form 4/A filed on Dec. 29 showed director David N. Farr amended an earlier insider report tied to deferred board fees converted into “Promised Fee Shares” under the company’s directors’ deferred compensation plan. SEC
A separate Form 4/A filed the same day showed director Martha E. Pollack made a similar amendment, also tied to Promised Fee Shares under the same plan, the filing showed. Promised Fee Shares are deferred units paid out after retirement, the forms said.
IBM still finished 2025 with a total return of about 38%, including dividends, even after the late-year dip, FinanceCharts data showed.
At Wednesday’s levels, IBM was trading at about 32 times trailing earnings and carried a dividend yield of roughly 2.5%, according to market data.
The next major catalyst is IBM’s fourth-quarter earnings update, scheduled for Jan. 28, 2026, a preliminary date on the company’s investor calendar.
Investors typically use that report to recalibrate expectations for IBM’s software and consulting momentum and its cash generation, as well as management’s outlook heading into a new year when enterprise customers often reset spending plans.
Macro signals remain part of the backdrop. Reuters reported investors are focused on the Federal Reserve’s policy trajectory in 2026 after markets priced in further rate reductions, a key swing factor for valuations across large-cap tech.
In the near term, traders will watch whether IBM can reclaim the $300 level after Wednesday’s pullback, with the stock ranging between $295.90 and $303.00 during the session, market data showed.
