143.63 +0.14 (0.10%)
After hours: 4:53PM EDT
|Bid||143.67 x 900|
|Ask||143.68 x 800|
|Day's Range||143.02 - 144.04|
|52 Week Range||105.94 - 154.36|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||15.10|
|Earnings Date||Jul 17, 2019|
|Forward Dividend & Yield||6.48 (4.54%)|
|1y Target Est||147.21|
Yahoo Finance's Myles Udland a look at what will be making headlines on Wednesday, July 17th.
This new push builds on the existing relationship in which AT&T; Business is IBM’s strategic global networking provider.
With the IBM-Red Hat deal done, Red Hat is expected to continue to grow in Massachusetts as an independent company, according to a local executive for the open source data giant.
A look at the shareholders of International Business Machines Corporation (NYSE:IBM) can tell us which group is most...
United Airlines, Peabody Energy, IBM, Microsoft and Netflix highlighted as Zacks Bull and Bear of the Day
ARMONK, N.Y. and DALLAS, July 16, 2019 /PRNewswire/ -- IBM (NYSE: IBM) and AT&T (NYSE:T) today announced a multi-year strategic alliance. Under the agreement AT&T Communications will use IBM's expertise to modernize AT&T Business Solutions' internal software applications, enabling migrations to the IBM Cloud. In addition, IBM will provide infrastructure to support AT&T Business's applications.
International Business Machines Corp. has hailed its acquisition of Red Hat as a “game-changer,” but now it’s time for the tech giant to prove itself.
A Reuters review of 33 projects announced over the past four years and interviews with industry executives involved in them shows the technology has yet to deliver on its promise. ** Deloitte and technology startup SETL announced in 2016 that they had tested a card payment system based on blockchain. SETL said at the time that the service could launch as early as 2017.
The US tech company said on Tuesday that it had signed a multiyear contract with AT&T worth “billions of dollars” for a range of cloud and other technologies that included the Red Hat products, though it would not provide more precise details. Ginni Rometty, the IBM chief executive who has gambled on Red Hat reviving growth after years of contraction, claimed the contract was an early sign that the strategy was working. IBM bought the open source software company, best known for its support of the Linux operating system, to build out a software platform for customers to move their computing workloads between their own data centres and the cloud — known as hybrid cloud service — and to manage workloads spread between different cloud computing providers.
Shares of IBM (IBM) have easily outpaced the market in 2019 and the firm officially announced the completion of its $34 billion deal to buy Red Hat last week. With this in mind, let's see what investors should expect from the tech firm's Q2 2019 financial results...
With most blue-chip companies' earnings scheduled over the coming weeks and investors' sentiment being mixed, investors should closely monitor the movement of the Dow ETF.
Oracle (ORCL) fails to win the lawsuit challenging JEDI contract's policies and qualifying criteria. Oracle's opposition to JEDI is likely to weigh on its ongoing business with DoD.
Second-quarter earnings are usually pretty sleepy, with forecasts for the back-to-school and holiday periods tucked away for later review amid summer vacation schedules. You may want to pay attention this year, though.
Benzinga has examined prospects for many investor favorite stocks over the past week. Bullish calls included big banks and a retailer bucking the industry trend. Bearish calls included pharma and video ...
(Bloomberg) -- Oracle Corp. lost its legal challenge to the Pentagon’s $10 billion cloud contract on Friday, clearing the way for the government to award the contract to Amazon.com Inc. or Microsoft Corp.Federal Claims Court Senior Judge Eric Bruggink dismissed the company’s argument that the contract violates federal procurement laws and is unfairly tainted by conflicts of interests. Bruggink said that because Oracle didn’t meet the criteria for the bid, it “cannot demonstrate prejudice as a result of other possible errors in the procurement process.”The decision is a major blow to Oracle, which risks losing a share of its federal defense business if the Pentagon awards the contract to another cloud company. The ruling eliminates a headache for the Pentagon, which has been fending off challenges to its winner-take-all strategy in the cloud contract for more than a year.“Oracle will likely be most threatened by this” decision, said Bloomberg Intelligence Analyst James Bach. “They stand to lose the most ground in the Defense market if the DOD decides JEDI is the end-all be-all.”Oracle looks forward to “working with the Department of Defense, the Intelligence Community, and other public sector agencies to deploy modern, secure hyperscale cloud solutions that meet their needs,” company spokeswoman Deborah Hellinger said in a statement. She didn’t comment on whether the company plans to appeal the decision.Elissa Smith, a Defense Department spokeswoman, said in a statement that the ruling “reaffirms the DOD’s position: the JEDI Cloud procurement process has been conducted as a fair, full and open competition, which the contracting officer and her team executed in compliance with the law.”Amazon Web Services, which was also a defendant in the case, said in a statement that the company “stands ready to support and serve what’s most important – the DoD’s mission of protecting the security of our country.”JEDI ProjectThe project, known as Joint Enterprise Defense Infrastructure cloud -- or JEDI, an acronym intended to evoke “Star Wars” imagery -- is intended to be the Defense Department’s general-purpose cloud for most of its systems and applications.The Pentagon is investing in commercial cloud services, in which computing power and storage are hosted in remote data centers, to consolidate its existing technology products, embrace artificial intelligence and machine learning, and enhance its technical capabilities on the battlefield.Vying for the contract became contentious as legacy tech companies such as Oracle and International Business Machines Corp. waged a fierce lobbying and legal campaign against the Pentagon’s decision to choose just one provider. Although they are long-time government contractors, those companies were late entrants to the cloud computing market and eyed market leader Amazon as a threat to their traditional revenue streams from the Defense Department.In April, the Pentagon eliminated Oracle and IBM from the competition, leaving Amazon and Microsoft as the final contenders. Dana Deasy, the Pentagon’s chief information officer, has said the Defense Department expects to make an award in August.Amazon Web Services was widely seen as the front-runner for the contest because it had already won a $600 million contract from the Central Intelligence Agency that helped it obtain much-needed security approvals. Microsoft is catching up to Amazon through its advancements in winning such clearances, as well as a recent cloud deal with the intelligence community and years of experience working with the Defense Department.Partial VindicationThe ruling is a partial vindication for Pentagon officials who have battled months of allegations that its procurement process was corrupt, including the circulation of a 33-page anti-Amazon dossier around Washington that suggested improper personal relationships had given Amazon an edge. The Defense Department has also faced pressure from lawmakers, who criticized the deal for lacking enough competition from industry.There are still potential hurdles for the Defense Department as it moves forward with the bid. Either Microsoft or Amazon could lodge a challenge of the contract with Government Accountability Office or in the Federal Claims Court if they were to lose. Oracle could also appeal the ruling in the Court of Appeals for the Federal Circuit.On Friday, Chris Lynch, the former director of the Defense Digital Service, which designed the project, praised his former team for their work on the project.“JEDI will immediately deliver much needed capabilities to the warfighter, deliver incredible capabilities that are built from the best tech, and it will change lives,” he tweeted. “Couldn’t be more proud.”Contested TermsOracle’s lawsuit, which was filed in December, alleged that the Pentagon’s minimum requirements for the contract as well as its decision to pick just one winner violated federal procurement laws designed to ensure competition. The government has said choosing one winner would reduce security risks and better enable it to consolidate its technology products.The suit also claimed that the procurement has been marred by conflicts of interest, including ties between former Defense Department officials and Amazon. At least two of the former employees were offered jobs at the company while working on the contract, according to the lawsuit.The Pentagon determined in its internal review that the relationships had no adverse impact on the integrity of the acquisition process but said the department’s inspector general was looking into potential unethical conduct. Bruggink said in his ruling that the Defense Department’s determination on the allegations was not “arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law.”(Updates with Pentagon comment in sixth paragraph.)\--With assistance from Nico Grant.To contact the reporter on this story: Naomi Nix in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
International Business Machines (NYSE:IBM) reports its second-quarter earnings on July 17 after the bell. This will be the company's first earnings report since completing the purchase of Red Hat. For this reason, many investors may look for clues as to whether this acquisition can help resume growth and reverse the revenue declines that have led to an overall decrease in IBM stock over the last few years.Source: Shutterstock Although earnings reports tend to tell what happened in the past, investors need to go into this report focused on the future. Watch Revenues, GuidanceConsensus IBM earnings estimates for the quarter stand at $3.07 per share. If this number holds, it will come in one penny per share less than the second quarter of 2018, when the company earned $3.08 per share. They also forecast revenues of $19.16 billion, 4.2% less than the $20 billion earned in the same quarter last year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAlthough the Armonk, New York-based IT giant usually beats earnings estimates, the company fell short on revenue in the first quarter. Revenue growth has become an ongoing challenge as none of its divisions registered revenue growth in the previous report. Hence, analysts will probably watch this report carefully on revenue guidance.With revenue disappointing, earnings growth also becomes a struggle. IBM may avoid a drop in profits. However, analysts only forecast an earnings increase of 0.7% for the year. * 10 Stocks Driving the Market to All-Time Highs (And Why) IBM's Position in the Market Remains UncertainThis makes the forward price-to-earnings (P/E) ratio of around ten much less appealing. Also, its annual dividend yields almost 4.6% and has increased for 19 consecutive years. However, with the payout ratio now at over 66%, one has to wonder how long the dividend increases can continue for IBM stock if its negligible profit growth does not improve.Also, the company recently completed its acquisition of Red Hat. However, only time will tell whether that will help make the venerable IT giant successful in today's tech world. IBM has existed since 1911. It also managed to remain relevant long after its original technology became obsolete.However, the likes of Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB) and Microsoft (NASDAQ:MSFT) have now passed the company by to a significant degree. With this challenge, one has to wonder whether IBM can successfully reinvent itself again. IBM Stock Is 'Speculative'This makes IBM stock something you would not normally associate with a large, profitable company -- speculative. It is a different kind of speculative than a penny stock hoping to make it back. In this case, IBM bulls hope the company can do well enough to maintain itself and its annual dividend increases.If Red Hat integration and other initiatives can resume significant growth rates for the company, IBM stock is very cheap at these levels. However, if anemic growth forces the company to end its 19-year streak of dividend increases, stockholders will probably face years of pain. The Bottom Line on IBMGoing into earnings, IBM stock investors need to watch guidance. Given its history, I think IBM will beat earnings. However, revenue declines and a high dividend payout ratio should cause concern.Hopefully for IBM stock bulls, revenue guidance will offer some hope, both for the integration of Red Hat into the company and for the resumption of revenue growth.To be sure, the low price-to-earnings ratio and the high dividend yield in a company with a history of payout increases could attract bargain hunters. However, these supposed benefits hide serious dangers. If the company fails to reverse revenue declines, a cut in payouts remains a real possibility.Hence, I think investors should avoid this stock going into earnings. Moreover, unless and until revenue looks poised to improve, I would treat IBM as speculative.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy for Less Than Book * 7 Marijuana Stocks With Critical Levels to Watch * The 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond The post IBM Stock Looks More Dangerous Than It Appears Ahead of Earnings appeared first on InvestorPlace.