IBM Unveils New Sub-1 NM Chip, the size of a fingernail

Summary

IBM unveiled a sub-1 nm chip blueprint, boosting shares premarket, though commercialization is years away. McCormick beat earnings on a tariff refund and reaffirmed guidance, while pantry use slowed growth. Darden fell as Olive Garden same-store sales missed, but Longhorn Steakhouse strength provided a cushion.

• IBM premarket gain on sub-1 nanometer chip blueprint for next-gen AI chips, with 50% better performance and lower power
• IBM stock down 11% year-to-date despite innovation, with production path in about five years
• McCormick reported Q2 profit beat aided by tariff refund, reaffirmed full-year guidance, but same-store sales slowing as consumers use pantry items
• McCormick shares up about 1% but down 30% year-to-date
• Darden Restaurants shares fell after Olive Garden same-store sales growth trailed estimates, promotions failing to offset lower-income consumer pressure
• Longhorn Steakhouse within Darden performed well, cushioning overall results as overall earnings exceeded expectations
• Darden stock down 3.5% premarket