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Stock Market & Financial Investment News

News For ACN;CTSH;IBM;HPQ;WIT;INFY From The Last 14 Days
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October 21, 2014
09:07 EDTHPQFlextronics appoints Michael Mendenhall as Chief Marketing Officer
Flextronics (FLEX) announced that Michael Mendenhall has been appointed to lead the Company's worldwide marketing, branding and communications initiatives. Mendenhall most recently served as the Executive Vice President and Chief Marketing and Communications Officer for Fusion-io. In this role, he was responsible for repositioning the Company's brand and products and played a key role in its successful acquisition by SanDisk (SNDK). Previously, he served as Senior Vice President and Chief Marketing Officer for HP (HPQ) and directed all aspects of corporate marketing operations globally.
07:50 EDTIBMIBM price target lowered to $125 from $160 at Credit Suisse
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06:40 EDTIBMForrester: Adobe becomes marketing cloud leader, VentureBeat reports
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06:29 EDTIBMIBM downgraded to Hold from Buy at Evercore
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06:07 EDTIBMIBM downgraded to Hold from Buy at Evercore
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October 20, 2014
16:20 EDTIBMOn The Fly: Closing Wrap
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15:06 EDTIBMIBM price target lowered to $198 from $220 at Cantor
Cantor lowered its price target on IBM to $198 from $220 following the company's Q3 results and withdrawal of its FY15 EPS guidance. However, the firm believes the company has been undergoing a transition over the past few quarters and that the Q3 results are a "near-term speed bump" for IBM, on which it keeps a Buy rating.
12:37 EDTIBMOn The Fly: Midday Wrap
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12:09 EDTIBM, HPQIBM hits 52 week low after earnings miss, 2015 profit target dropped
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10:25 EDTHPQ, IBMIBM CEO says company already has been aggressive on changing
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10:09 EDTIBMIBM hits fresh 52-week low after miss, levels to watch
Shares hit a fresh 52-week low earlier in the session at $166.71 but have bounced fractionally since then. That new low is now support. Resistance is at $172.99.
09:22 EDTIBMOn The Fly: Pre-market Movers
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09:13 EDTIBMIBM says acquistions meant to supplement, not transform, Enterprise business
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08:44 EDTIBMIBM CEO says recent Apple, SAP deals represent change in partnering strategy
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08:34 EDTIBMIBM lowers FY14 free cash flow view to $12B-$13B
08:32 EDTIBMIBM sees taking workforce rebalancing charge of up to $600M in Q4
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08:20 EDTIBMIBM says some fundamental industry shifts happening faster than planned
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07:21 EDTIBMIBM sees $1.5B pretax gain related to deal with Lenovo Group
IBM (IBM) announced that on October 1 the company and Lenovo (LNVGY) completed the initial closing of the sale of IBM’s industry standard server business to Lenovo. The transition began on October 1 in countries that are part of the initial closing, which included most major markets. The transaction is expected to close later this year in most other countries which have a larger business footprint, with the remaining countries following in early 2015. The transaction price is approximately $2.1B and as consideration, IBM received $1.8B in cash, with the remaining consideration paid in Lenovo stock. IBM expects to recognize a total pre-tax gain on the sale of approximately $1.5B, which does not include associated costs related to transition and performance-based costs. Net of these charges, the gain is approximately $1.0B. Almost all of the gains will be booked in the fourth quarter of 2014, with the remaining portion expected beyond 2014, IBM stated.
07:18 EDTIBMIBM sees FY14 operating EPS down (4%)-(2%) from $16.64 in FY13
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07:16 EDTIBMIBM no longer expects 'at least' $20 operating EPS in 2015
FY15 EPS consensus $19.75. Says will provide view of 2015 in January. Comment from slides for Q3 earnings call.
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