|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||146.62 - 149.21|
|52 Week Range||139.13 - 171.13|
|PE Ratio (TTM)||24.07|
|Earnings Date||Jul 18, 2018|
|Forward Dividend & Yield||6.00 (3.83%)|
|1y Target Est||170.25|
The Senate’s No. 2 Republican on Thursday used a floor speech to try to beat back efforts by IBM and a tech trade group to gut a bill that would expand the powers of a secretive national security panel. The section of the bipartisan legislation that Senator John Cornyn of Texas is trying to preserve would strengthen the Committee on Foreign Investment in the U.S., known as CFIUS, and grant it the authority to review joint ventures with foreign firms. The measure aims to prevent the Chinese from obtaining sensitive American technologies through tie-ups with U.S. companies that fall short of CFIUS’s purview because they aren’t full acquisitions.
Palo Alto Networks (PANW) has maintained strong bottom-line growth in the last five quarters, supported by robust demand for next-generation security products such as GlobalProtect and PAN-OS 8.0. Moreover, increased cyber threats to enterprises have boosted demand for security products, driving revenue and EPS (earnings per share). Advanced products backed by high-quality services have helped the company win large contracts. Also, US tax reform may continue to act as a strong catalyst for the company.
Alphabet’s (GOOGL) Google is drafting ethical principles to guide the use of its technology in military activities, according to CNBC. Google’s decision to consider creating a code of ethics on military contracts is believed to be in response to outrage among thousands of its employees after it was reported that the company had agreed to supply the US Department of Defense (or DoD) with artificial intelligence (or AI) technology to help analyze drone data. More than 3,000 Google employees signed a letter urging the company’s leadership to keep out of “the business of war.” The employees asked Google CEO Sundar Pichai to withdraw from the contract to supply the DoD with AI technology to help with the analysis of drone footage.
Shares of International Business Machines Corp. (NYSE:IBM) certainly took it on the chin yesterday. IBM stock dropped over 12 points, or 7.5%, following lukewarm earnings and disappointing guidance. The company now expects EPS of $13.80 for 2018 versus prior guidance of $13.83. While a slight lowering on guidance of 3 cents (0.22%) deserves a lower stock price, it assuredly doesn’t deserve a 7.5% lower stock price. IBM stock is fast approaching major support at the $147.50 level.
Armonk, New York-based information technology (IT) giant International Business Machines Corp. ( IBM) slipped over 7.5% Wednesday as investors demonstrated impatience with progress of the old-guard tech titan's transformation plan. In the first quarter of 2018, IBM posted year-over-year (YOY) revenue growth for the second consecutive period. Earnings of $2.45 per share on $19.1 billion in sales met targets for earnings of $2.42 per share on $18.84 billion in sales, according to Thomson Reuters.
Caught between obligations to shareholders and employees, IBM (NYSE:IBM) was unable to commit to the $1 billion per quarter needed to compete in cloud early in this decade. Oracle is now trying to play catch-up, but the others have fallen by the wayside.
Cincinnati-based hospital system TriHealth intends to adopt a significant portion of IBM Watson Health’s Enterprise Imaging Portfolio.