IBM falls after Accenture flags federal contract cancellations

ReutersMar 20, 2025 3:32 PM

Shares of consultancy and IT software company International Business Machines IBM.N fall 3.2% to $244.27

Rival Accenture ACN.N said the Trump administration's efforts to reduce federal spending have led to delays and cancellations of new contracts

U.S. President Donald Trump will sign a long-anticipated executive order on Thursday that aims to shut down the Department of Education

IBM offers AI solutions to various federal agencies including the U.S. Department of Education

IBM did not immediately respond to a Reuters request for comment

As of last close, IBM was up ~15% YTD

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