image credit: Unsplash

Stocks making the biggest moves in the premarket: IBM, Eaton Vance, Domino’s Pizza, Coty & more

October 8, 2020


IBM (IBM) – IBM said it would spin off the managed infrastructure services unit of its global technology services division into a separate public company, to allow it to focus on its hybrid cloud growth strategy. The spin-off will be accomplished through a tax-free distribution to IBM shareholders.

Eaton Vance (EV) – The investment firm agreed to be acquired by Morgan Stanley (MS) for $56.50 per share in cash and stock, for a total value of about $7 billion. The news comes just a few days after Morgan Stanley completed its acquisition of E*Trade Financial.

Read More on CNBC