Kyndryl Stock Crashes After Former IBM Unit Discloses Accounting Review -- WSJ

Dow Jones

Feb 09

By WSJ Staff

Shares in Kyndryl tumbled after the IBM spinout said it was reviewing accounting practices following queries from the SEC, while its top financial and legal executives have left.

-- Kyndryl is reviewing cash-management practices, related disclosures, and the effectiveness of internal controls over financial reporting.

-- The review follows document requests from the Securities and Exchange Commission.

-- Chief Financial Officer David Wyshner has left, as has General Counsel Edward Sebold.

-- Kyndryl said it expects to disclose "material weaknesses" in financial reporting, including "controls related to information and communication and tone at the top."

-- Shares roughly halved in premarket trading, recently trading at under $11 a share. As of Friday, it had a market cap of $5.4 billion.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

February 09, 2026 09:27 ET (14:27 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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As of Friday, it had a market cap of $5.4 billion. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 09, 2026 09:27 ET (14:27 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1674673428.USD","symbol_name":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2610659835","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2610659835","pubTimestamp":1770647220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares in Kyndryl tumbled after the IBM spinout said it was reviewing accounting practices following queries from the SEC, while its top financial and legal executives have left.-- Kyndryl is reviewing cash-management practices, related disclosures, and the effectiveness of internal controls over financial reporting.-- The review follows document requests from the Securities and Exchange Commission.-- Chief Financial Officer David Wyshner has left, as has General Counsel Edward Sebold.-- Kyndryl said it expects to disclose \"material weaknesses\" in financial reporting, including \"controls related to information and communication and tone at the top.\". -- Shares roughly halved in premarket trading, recently trading at under $11 a share. As of Friday, it had a market cap of $5.4 billion.This item is part of a Wall Street Journal live coverage event. 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As of Friday, it had a market cap of $5.4 billion. \n\n\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n  (END) Dow Jones Newswires\n\n\n  February 09, 2026 09:27 ET (14:27 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}