132.42 -0.16 (-0.12%)
After hours: 7:28PM EDT
|Bid||132.42 x 900|
|Ask||132.60 x 1300|
|Day's Range||130.90 - 133.10|
|52 Week Range||105.94 - 152.95|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||13.93|
|Earnings Date||Jan 20, 2020 - Jan 24, 2020|
|Forward Dividend & Yield||6.48 (4.56%)|
|1y Target Est||150.85|
IBM shares are slumping after the company reported a fifth consecutive quarter of falling sales. But revenue from Redhat grew by 20%. Yahoo Finance's Melody Hahm joins Akiko Fujita on The Ticker.
Persisting challenges in Global Technology Services, which accounts for around 35% of IBM’s revenue, are likely to weigh on the company’s performance, Shah said in the note. Pressure in IBM’s legacy businesses may partly offset growth from the first year of its mainframe cycle and the Red Hat acquisition in 2020, the analyst mentioned.
ARMONK, N.Y., Oct. 21, 2019 /PRNewswire/ -- Recognizing that organizations are slow to adopt AI, due in part to rising data complexities, IBM (NYSE: IBM) today announced new innovations that further advance its Watson Anywhere approach to scaling AI across any cloud, and a host of clients who are leveraging the strategy to bring AI to their data, wherever it resides. "We collaborate with clients every day and around the world on their data and AI challenges, and this year we tackled one of the big drawbacks to scaling AI throughout the enterprise – vendor lock-in," said Rob Thomas, General Manager, IBM Data and AI. "When we introduced the ability to run Watson on any cloud, we opened up AI for clients in ways never imagined.
The IBM Food Trust platform signed a partnership with Raw Seafoods on October 17, bringing in blockchain-based traceability possibilities to the seafood supply chain that includes stakeholders like fisheries, distributors, retailers and restaurateurs. Earlier this year, a study by ocean-protection foundation Oceana found that one in every five seafood products tested were mislabeled – making 20% of all seafood in the supply chain at any given moment fraudulent. In this context, the IBM Food Trust's association with Raw Seafoods will help digitalize the supply chain for scallops sourced from the Atlantic Sea Scallop Fishery.
CEO confidence has fallen to its lowest level since the global financial crisis more than a decade ago, Goldman Sachs says.
San Jose State is the first western university to partner with IBM on program that has given nearly $300 million just in software to schools around the world.
Revenue dropped for the fifth quarter in a row, but IBM enhanced its cloud position by acquiring Red Hat and should be a major player in 5G.
UBS analyst Munjal Shah cut his rating on International Business Machines Corp. shares to neutral from buy on Monday, writing that he believes it will be hard for the company to sustainably reach mid-single-digit revenue growth. For next year, he argues that challenges for IBM's legacy businesses will "somewhat offset" the growth that stems from the beginning of the mainframe cycle as well as IBM's recently completed Red Hat deal. "The following year (2021) should be even more challenging with greater revenue pressure due to tough Year 2 mainframe compare and lower incremental Red Hat contribution," Shah wrote. He lowered his target price to $140 from $170 on the stock, which is off 0.7% in premarket trading Monday. The stock has shed 10% over the past three months, as the Dow Jones Industrial Average has fallen 1.4%.
Ginni Rometty has been the CEO of International Business Machines Corporation (NYSE:IBM) since 2012. This report will...
IBM was falling Monday after analysts at UBS lowered their price target on the stock to $140 from $170 a share on concerns about the company's growth prospects. The new price target represents only a slight 4% upside from the stock's previous closing price of $134.09. Analyst Munjal Shah forecasts the company's legacy tech businesses will have negative pressure in 2020, with 2021 being even more challenging for the segment as the returns from the company's acquisition of Red Hat become incrementally weaker.
Global Container Terminals Inc. (GCT) said it will take part in the TradeLens blockchain platform developed by Maersk and IBM (NYSE: IBM). TradeLens has said the platform allows shippers, ocean carriers, freight forwarders, port and terminal operators, inland transportation and customs authorities to interact more efficiently through real-time access to shipping data and shipping documents. TradeLens will facilitate "seamless data sharing, collaboration and improved trade flows" with ocean carriers, beneficial cargo owners and railways, GCT said in a statement, adding that 10 of its ocean carrier customers have committed to using the TradeLens platform.
DOW UPDATE Shares of Johnson & Johnson and American Express are posting losses Friday morning, dragging the Dow Jones Industrial Average into negative territory. Shares of Johnson & Johnson (JNJ) and American Express (AXP) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 70 points (0.
A week after Red Hat CFO Eric Shander unexpectedly left the company, little information on his departure has come out of Red Hat Tower other than the decision came down to “workplace standards.”
One of the key reasons Amazon (NASDAQ:AMZN) stock is one of the most valuable on Wall Street -- with a market cap of $884 billion -- is that the company is willing to take bold initiatives. True, sometimes things fall short, as seen with the move into the smartphone business.Source: Zapp2Photo / Shutterstock.com But for the most part, CEO Jeff Bezos has been able to make the right strategic decisions and deploy resources in a disciplined way. Perhaps the best example of this is AWS (Amazon Web Services). Without this, AMZN stock would likely have a much lower valuation today.The irony is that the company was not the ideal player to be the winner in the cloud. It should have been from a tech operator like Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL) or IBM (NYSE:IBM). These companies had the advantages of large enterprise customer bases as well as strong infrastructures and trusted brands.InvestorPlace - Stock Market News, Stock Advice & Trading Tips AWS Enables Aggressive InvestmentsBezos saw that the cloud was the future of business software. Customers would greatly benefit from the access to a wide assortment of services at a low price. There would also be no need to pay for the hardware, servers and other technologies.The result is that AWS has become a juggernaut, making Amazon the cloud's force to be reckoned with in the 1 position. In the latest quarter, revenues from the business jumped by 49% to $8.38 billion or a run-rate of more than $33 billion. The high operating income from the cloud has also made it possible for Amazon to aggressively invest in other opportunities, such as health care, delivery and online advertising.OK then, so what's next? Can there be another AWS that will continue to power AMZN stock? Well, I think so. And it's AI (Artificial Intelligence). AI Powered Amazon's Original Book RecommendationsKeep in mind that this technology has been a part of the company's focus since its early days. A form of AI was essential for creating the recommendation system for the original online bookstore, which helped propel sales. * 10 Hot Stocks Staging Huge Reversals But of course, the company has continued to push innovation. In fact, a big part of this has been leveraging the huge AWS customer base. To this end, AMZN has been adding sophisticated AI features, including developing a system called SageMaker that makes it easier to create sophisticated models.Yet the most notable example of AMZN's AI is Alexa. Since the launch of this platform five years ago, there have been over 100 million devices shipped. There has also emerged a powerful ecosystem of developers, who have created more than 80,000 skills.According to Chris Nicholson, CEO and founder of Skymind, an AI infrastructure developer, in an email interview: "Amazon is to the smart home what Tesla is to smart cars. It has more devices being used out in the world than any one else, and that gives it a huge advantage in the amount of data it can gather and use to train its AI. Amazon made a play for the home with Alexa and Ring, and it dominates that space like Microsoft used to dominate operating systems." * 7 Dividend Stocks to Buy (With Brands You Can Find In Your Kitchen) The big play for Alexa is as next-generation e-commerce platform. It's all part of something known as conversational commerce. And it is likely to be a massive market. According to OC&C Strategy Consultants, the spending is forecast to reach $40 billion by 2022 in the U.S. Bottom Line On Amazon StockIt's true that there is lots of hype with AI. Many companies are jumping on the bandwagon so as to get funding. Investors looking for a play in the AI space shouldn't overlook Amazon stock.In artificial intelligence, Amazon.com is the real deal. More importantly, it has the massive platform -- with huge amounts of data -- to be highly competitive in this category. And as seen with AWS, the company knows how to monetize technologies. Thus, when looking for a solid play on AI, AMZN stock is certainly a solid choice.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Best Penny Stocks to Buy * 7 Bank Stocks to Avoid Now at All Costs * The 10 Best Mutual Funds for Your 401k The post Amazon Stock Emerges as a Great Way To Play AI (Artificial Intelligence) appeared first on InvestorPlace.
IBM stock dropped Thursday, following a quarterly earnings report that fell short of expectations as the computer giant continues a business transition that's caused a lengthy sales slowdown.
Signs of hope for a Brexit deal and U.S.-China trade war updates. Some disappointing U.S. manufacturing and retail data. Q3 earnings results from the likes of Netflix. And why Google parent Alphabet is a Zack Ranks 1 (Strong Buy) stock. - Free Lunch
For some unexplained reason, there was a relentless buyer in the issue on huge volume. To begin the regular session, the issue opened at the high for the day, $10.56, and has traded as low as $8.33. After the close Wednesday, Netflix Inc (NASDAQ: NFLX) delivered a solid third-quarter beat for EPS and sales.
IBM and Netflix reported better-than-expected earnings and sales that fell a bit short of Wall Street analysts’ forecasts. IBM stock is getting hammered, while Netflix is on the rise, a sign that investors prefer growth to cash flow.
One technology analyst says despite IBM's disappointing third quarter results, its long-term saving grace is its acquisition of Red Hat.
IBM (NYSE: IBM ) shares tumbled 6% on Thursday after the company missed consensus revenue expectations and reported its fifth consecutive quarter of negative sales growth. Third-quarter revenue was down ...
The three major U.S. stock market indexes were close to flat following a slide in IBM and mixed news about the economy.