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May 27, 2014
11:07 EDTIBMIBM says trusted in China, unaware of policy against servers, Bloomberg says
IBM, citing news reports about a Chinese government policy against using the company's servers, said the company is a trusted partner in China and that the company is not aware of a Chinese policy against the use of its servers in the country, according to a company e-mailed statement to Bloomberg.
News For IBM From The Last 14 Days
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April 20, 2015
17:00 EDTIBMIBM seeing signs transformation is working
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16:53 EDTIBMIBM Q1 cloud revenue up more than 75% adjusted for FX, divested businesses
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16:14 EDTIBMIBM CEO says Q1 "strong" start to year
"In the first quarter we had a strong start to the year. Our strategic imperatives growth rate accelerated, demonstrating the power of our offerings in these new opportunities and contributing to improved revenue performance. Our focus on higher value through portfolio transformation and investment in key areas of the business drove continued margin expansion,” said Ginni Rometty, IBM chairman, president and CEO.
16:13 EDTIBMIBM reports Q1 services backlog of $121B
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16:12 EDTIBMIBM reports Q1 revenue from Hardware down 23%
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16:11 EDTIBMIBM reports Q1 revenue from Software Segment down 8%
Revenues from the Software segment were down 8% to $5.2B (down 2 percent adjusting for currency) compared with the first quarter of 2014. Software pre-tax income increased 1 percent and pre-tax margin increased to 31.4%. Revenues from IBM’s key middleware products, which include WebSphere, Information Management, Tivoli, Workforce Solutions and Rational products, were $3.5B, down 5% (up 1 percent adjusting for currency) versus the first quarter of 2014. Operating systems revenues of $0.4B were down 15% (down 9 percent adjusting for currency) compared with the prior-year
16:09 EDTIBMIBM reports Q1 Global Services segment revenue down 12%
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16:07 EDTIBMIBM sees FY15 EPS $15.75-$16.50, consensus $15.89
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16:05 EDTIBMIBM reports Q1 EPS $2.91, consensus $2.82
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15:37 EDTIBMNotable companies reporting after market close
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15:13 EDTIBMIBM April weekly 165 straddle priced for 3.5% movement into Q1
15:05 EDTIBMEarnings Watch: IBM rumored to be concerned about becoming activist target
International Business Machines (IBM) is expected to report first quarter earnings after the close on Monday, April 20, with a conference call scheduled for 4:30 pm ET. IBM, a global information technology services and software company, is a component of the Dow Jones Industrial Average. EXPECTATIONS: Analysts are looking for earnings per share of $2.82 on revenue of $19.73B. The consensus range is $2.57-$3.01 for EPS on revenue of $19.31B-$20.49B, according to First Call. During its investor day meeting on February 26, IBM backed its FY15 EPS view of $15.75-$16.50, which compared to consensus at the time of $16.02 and current consensus of $15.89. Based on February 25 spot rates, the company said it expected currency to impact revenue growth by over 7 points for Q1, and over 6 points for the full year. This was greater than the impact previously provided based on January 16 spot rates. In addition, the company said it continued to expect a 4 point impact to revenue growth in each of the first three quarters of 2015 due to the divestiture of the System x business. LAST QUARTER: IBM reported Q4 EPS of $5.81, topping the consensus estimate of $5.41. Revenue came in at $24.1B, which was below the consensus $24.77B projection. IBM said at that time that it had a services backlog of $128B. NEWS: On February 17, IBM unveiled IBM Spectrum Storage, a new storage software portfolio designed to address data storage inefficiencies, according to the company. To accelerate the development of next-generation storage software, IBM also announced plans to invest more than $1B in its storage software portfolio over the next five years. During its analyst day meeting a bit over a week later, IBM said it was shifting $4B into "strategic initiatives," including Big Data, the Cloud, mobile, social and security. On March 31, IBM announced that it will invest $3B over the next four years to establish a new Internet of Things, or IoT, unit, and that it is building a cloud-based open platform designed to help clients and ecosystem partners build IoT solutions. On April 2, CNBC reported, citing people with knowledge of the matter, that IBM had hired two investment banks to "formulate a defense plan" since the company was concerned about a potential attack by activist hedge funds. The sources also noted that activist investors in IBM had already tried and failed to get Bill Ackman's Pershing Square and Jeffrey Ubben's ValueAct involved in shaking up the company. STREET RESEARCH: On the day after the company's last report, Citigroup cut its price target for IBM shares to $170 from $180. Meanwhile, Jefferies said that day that IBM's cash flow guidance for 2015 was "very weak" and that the company had yet to reach a bottom. The firm continued to believe the risk/reward for shares was skewed negatively and it kept an Underperform rating and $130 price target on IBM shares at that time. On March 2, Atlantic Equities downgraded IBM to Underweight from Neutral. The firm said IBM faces long-term structural issues and it was unconvinced management's strategic plan will change the direction. The firm, which foresees further room for disappointment around consensus expectations of 8% earnings growth in 2016-2017, lowered its price target to $140 from $150 on the stock. On April 15, Credit Suisse lowered its estimates on IBM ahead of the company's Q1 report and reiterated its Underperform rating and $125 price target on the stock. Credit Suisse said then that its concerns remain a weak order book and a reduction in industry-wide deal sizes, margin dilution from the cloud despite any revenue growth, less effective restructuring, and internal turmoil and underinvestment. PRICE ACTION: Shares of IBM fell $4.86, or 3.1%, to $152.09 on the first day of trading after its Q4 report. Despite that drop on the day after the report, IBM shares have risen nearly 5% over the last three months. In afternoon trading ahead of tonight's report, IBM is up 3% to $165.49 per share.
12:57 EDTIBMIBM technical comments ahead of earnings
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06:29 EDTIBMIBM April volatility elevated into Q1 and outlook
IBM April weekly call option implied volatility is at 46, May is at 25, June is at 22; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on April 21.
April 19, 2015
19:57 EDTIBMIBM project in China causes some U.S. concern, NY Times says
IBM has in the past 16 months agreed and received U.S. permission to provide a Beijing company, Teamsun, with partial plans of its higher end servers and the software that runs on them but the U.S. tech giant's activities in China are now becoming a sensitive issue for the Obama administration which is trying to get Beijing to drop new policies requiring American companies to share technology in exchange for market access, says the New York Times. Reference Link
13:36 EDTIBMIBM stock could move towards $195 in intermediate term, Barron's says
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April 17, 2015
09:32 EDTIBMIBM acquires Explorys from Heritage Group
Explorys, a portfolio company of venture capital firm Heritage Group, has been acquired by IBM in an agreement signed April 13. In May 2012, big data company Explorys received a significant investment from the Heritage Healthcare Innovation Fund, a $167M strategic venture fund that invests in businesses that reduce healthcare costs, improve outcomes and increase the efficiency of delivery.
06:33 EDTIBMChina suspends new bank technology policy, NY Times reports
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April 15, 2015
15:14 EDTIBMIBM April volatility elevated into Q1 and outlook
IBM April weekly call option implied volatility is at 31, May is at 22, June is at 18; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on April 21.
08:43 EDTIBMIBM estimates lowered at Credit Suisse ahead of the Q1 report
Credit Suisse lowered IBM estimates ahead of the Q1 report on April 20 and reiterated its Underperform rating and $125 price target on the stock. The firm's Q1 estimates for EPS and revenue go to $2.84/$19.8B versus consensus of $2.86/$19.9B and FY15 to $15.59/$85B versus consensus of $15.98/$85.4B. Credit Suisse concerns remain a weak order book and a reduction in industry-wide deal sizes, margin dilution from the cloud despite any revenue growth, less effective restructuring, and internal turmoil and underinvestment.
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