IBM expected to unveil chip manufacturing deal Monday

Under pressure to boost margins, IBM is set to make what it calls a “major business announcement” Monday morning, an indication that it has finalized a deal to transfer chip-making operations to GlobalFoundries.

IBM announced Sunday that it would be issuing its quarterly earnings statement early Monday, moving it up from its previous schedule, timed for after the close of markets. The company said it would also separately make a business announcement.