IBM on Dec. 23 announced the dismissal of its patent lawsuit with Airbnb that was filed in early 2020 in the Federal District Court in Delaware. Shares of Airbnb lost 3.2% at the close on Wednesday. The terms of the settlement between IBM (IBM) and Airbnb (ABNB) remain confidential. "IBM invests more than $5 billion annually in research and development. This agreement further demonstrates the value of our intellectual property that results from this innovation. We're pleased this matter has been resolved." said IBM general manager Dr. William Lafontaine. Citi analyst Jim Suva recently reiterated a Hold rating on IBM stock with a price target of $140 following the company's Q3 results.
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