Julie Morgan

HEMS is down 6% in pre-market action.

The software and chief commercial officer of IBM, Rob Thomas, wrote in a blog post on Monday that translating COBOL code is not equivalent to modernizing enterprise systems, emphasizing that platform architecture, not the programming language, determines mainframe value.

The comments come after IBM shares had their worst day in more than 25 years on Monday.

This was after AI startup Anthropic,

said its clawed code tool can help modernize COBOL, a dated programming language that's run on IBM computers.

The stock plunged over 13% in its biggest single-day percentage loss since October of 2000.

With the decline, IBM shares have fallen 27% in February, on track for their biggest one-month slide since at least 1968, according to data compiled by Bloomberg.

Here's a look at a few other articles that are trending.

The White House is working on the 15% tariff, but the timeline remains unclear.

Bayer has sued Johnson & Johnson over prostate cancer drug claims.

And IonQ is in focus after being selected for a Golden Dome contract.

I have one item to tell you about in our Catalyst Watch for the day.

It's about Apple.

Apple will hold its annual meeting.

Shareholders will vote on a proposal from the National Center for Public Policy Research requesting a board-level report on risk and cost of Apple's reliance on and operations in China.

A vote on director re-election will include Chair Art Levinson and Director Ron Sugar, with the board explicitly waiving its usual age 75 guideline for those two.

On Wall Street, Dow, S&P and Nasdaq futures are in the green.

Crude oil is up 0.25% at $66 a barrel.

Bitcoin is down 2.3% at $63,000.

Gold is down 1% at $51.73.