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March 24, 2014
11:39 EDTXRX, IBMXerox announces president of services business to step down
Xerox (XRX) announced earlier that, effective April 1, Lynn Blodgett, Executive Vice President of Xerox Corporation and President, Xerox Services, and one of Xerox’s named executive officers, will step down as President, Xerox Services. He will be succeeded in that role by Robert Zapfel, who joins Xerox following a 35 year career at IBM (IBM), primarily in the Services business. Blodgett will remain an Executive Vice President of Xerox Corporation and will provide support for the transition of Zapfel through the end of the year, when Blodgett will retire, the company noted.
News For XRX;IBM From The Last 14 Days
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November 24, 2015
12:08 EDTXRXOn The Fly: Top stock stories at midday
Stocks began the session in negative territory and remained there for most of the morning. The weakness was attributed to the worldwide travel alert issued by the U.S. State Department on the eve of the Thanksgiving holiday as well as the shooting down of a Russian plane by Turkey, both of which heightened the tension of investors. The averages have shown improvement since the European markets closed and have moved to their session highs to turn mixed near noon. ECONOMIC EVENTS: In the U.S., the estimate of third quarter GDP growth was boosted to 2.1% from 1.5%, matching estimates. Personal consumption growth was estimated at 3.0% in the second look, versus expectations for an increase of 3.2%. The S&P/Case-Shiller 20-city composite home price index was up a seasonally adjusted 0.6% month over month in September, versus expectations for an increase of 0.3%. The Conference Board's consumer confidence reading for November came in at 90.4, missing the consensus forecast of 99.5. COMPANY NEWS: Bill Ackman has put more funds behind his big bet in Valeant Pharmaceuticals (VRX), as filings show that Pershing Square raised its stake in the embattled drugmaker to 9.9%. In other news from a high-profile activist investor, Carl Icahn revealed that he has taken a 7.13% stake in Xerox (XRXZ) and may seek positions on the board of the company. Research firm Piper Jaffray believes that Icahn's involvement in the company can amplify the company's review and boost the stock, but was not the case at midday, as Xerox shares slipped about 2% following last night's disclosure. MAJOR MOVERS: Among the notable gainers was Dollar Tree (DLTR), which rallied 6% after it reported upbeat quarterly earnings and backed its fiscal 2015 guidance. Also higher was Burlington Stores (BURL), which gained 8% after reporting quarterly results and approving a new $200M share repurchase program. In addition, Boulder Brands (BDBD) was up 8.5% after it agreed to be acquired by Pinnacle Foods (PF) for $11 per share. Pinnacle slipped 4% following the deal announcement. Another noteworthy losers was Brocade (BRCD), which fell 8% and was downgraded to Neutral from Overweight at JPMorgan following its Q4 earnings. Also lower was Microsemi (MSCC), which dropped 6% after it agreed to acquire PMC-Sierra (PMCS), which was also 6% lower, in a $2.5B transaction. INDEXES: Near midday, the Dow was up 15.57, or 0.09%, to 17,808.25, the Nasdaq was down 8.75, or 0.17%, to 5,093.73, and the S&P 500 was down 0.7, or 0.03%, to 2,085.89.
11:17 EDTXRXIcahn investment could be boost Xerox needs, analyst contends
After Carl Icahn disclosed a 7.1% stake in Xerox (XRX), research firm Piper Jaffray believes that investor's involvement in the company can amplify the company's review and boost the stock. WHAT'S NEW: Noting that Icahn said he would look to improve Xerox's operating performance and help the company consider strategic alternatives, Piper analyst George Tong believes that the billionaire investor's move could "amplify" Xerox's own strategic review. Announced during Xerox's third quarter earnings report on October 26, the review includes an assessment of all potential strategic steps excluding a sale of the company, Tong noted. The review is aligned with Icahn's objectives for Xerox, according to Tong. However, Icahn may add new perspectives to the review, or enable the company to more quickly take actions that will increase shareholder value, the analyst contended. The most likely outcome of the review is a decision by Xerox to either sell or de-emphasize businesses that have below average growth, margins, cash flows and financial visibility, Tong believes. Additionally, given Icahn's view that the stock is undervalued, the company could decide to accelerate its stock buyback program, added Tong, who kept a $15 price target and Overweight rating on the shares. PRICE ACTION: In morning trading, Xerox dropped 2.8% to $10.45.
09:24 EDTXRXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Baozun (BZUN), up 7.3%... Analog Devices (ADI), up 4.3%. ALSO HIGHER: Boulder Brands (BDBD), up 8.4% after Pinnacle Foods (PF) announced that it will acquire the company for $11.00 per share... Sunedison (SUNE), up 18% after the Economic Times reported that the company plans place 400MW of upcoming solar capacity on sale... Avon Products (AVP), up 7.5% after being upgraded to Buy from Neutral at Citi... Valeant (VRX), up 2.1% after Pershing Square increases stake in the company to 9.9%... Xerox (XRX), up 2.3% after Carl Icahn reported a 7.13% stake in the company. DOWN AFTER EARNINGS: Signet Jewelers (SIG), down 6.2%... Tiffany (TIF), down 2.9%... Brocade Communications (BRCD), down 7.2%. ALSO LOWER: UniPixel (UNXL), down 44.6% after the company prices a common stock and warrant offering... U.S. Steel (X), down 4% after announcing that it will idle its Granite City Works operations.
06:48 EDTXRXIcahn could be catalyst for Xerox shares, says Piper Jaffray
Piper Jaffray analyst George Tong says Carl Icahn's activist involvement could fast track Xerox's existing strategic realignment actions and serve as a positive catalyst for the shares. Tong believes the most likely outcome of Xerox's strategic review and Icahn's involvement is a decision to further de-emphasize or divest businesses that have below average growth. The analyst has an Overweight rating on the stock with a $15 price target.
06:13 EDTXRXXerox volatility flat into Carl Icahn reporting a 7.13% stake
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November 23, 2015
20:08 EDTXRXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Copart (CPRT), up 4.9%... Dycom (DY), up 4.6%... Palo Alto Networks (PANW), up 3.9%... Baozun (BZUN), up 6.7%. ALSO HIGHER: Xerox (XRX), up 6.7% after Carl Icahn reported a 7.13% stake in the company... Valeant (VRX), up 3.7% after Pershing Square increases stake in Valeant Pharmaceuticals to 9.9%. DOWN AFTER EARNINGS: Brocade (BRCD), down 5.5%... Ceres (CERE), down 10.3%... YY Inc. (YY), down 3.6%. ALSO LOWER: J.M. Smucker (SJM), down marginally after filing to sell 3.86M shares of common stock for holders.
17:17 EDTXRXXerox spikes higher after Icahn announces 7.13% stake
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17:11 EDTXRXIcahn reports 7.13% stake in Xerox, may seek board representation
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17:09 EDTXRXXerox up 8% to $11.62 after Icahn takes 7.13% stake
17:08 EDTXRXIcahn reports 7.13% stake in Xerox, may seek board representation
08:20 EDTIBMMerge Healthcare, eviCore partner to streamline medical imaging process
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November 20, 2015
10:00 EDTIBMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acceleron (XLRN) initiated with an Outperform at Oppenheimer... CSRA (CSRA) initiated with an Outperform at Cowen... HP Enterprise (HPE) initiated with a Neutral at Baird... Hortonworks (HDP) initiated with a Buy at Needham... IBM (IBM) initiated with an Outperform at JMP Securities... ITC Holdings (ITC) initiated with a Buy at Citi... Sucampo (SCMP) initiated with a Hold at Jefferies.
07:13 EDTIBMIBM initiated with an Outperform at JMP Securities
JMP Securities analyst Greg McDowell initiated IBM with an Outperform rating and $167 price target on shares. McDowell believes sentiment is too negative and investors do not appreciate its leadership position in multiple technology categories and sticky customer base, the potential for a crossover point within the next two years, when the fast-growing revenue components of the business will offset declines in the more mature businesses, its revenue diversity, with software now a significant portion of revenue and hardware less, and its capacity for self-renewal.
November 19, 2015
13:45 EDTIBMIBM mulling 3,000 job cuts in Germany, Reuters says
IBM is weighing cutting 3,000 jobs in Germany over the next two years, Reuters reports, citing Wirschafts Woche magazine. The magazine was quoting a union leader who sits on the firm's supervisory board, the report says. Reference Link
November 17, 2015
06:31 EDTIBMBerkshire buys more IBM shares, WSJ says
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November 16, 2015
07:50 EDTIBMUBS to hold a conference
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05:42 EDTIBMXilinx, IBM announce strategic collaboration
IBM (IBM), and Xilinx (XLNX) announced a multi-year strategic collaboration to enable higher performance and energy-efficient data center applications through Xilinx FPGA-enabled workload acceleration on IBM POWER-based systems. IBM and Xilinx, through a private signed agreement and collaboration through the OpenPOWER Foundation, are teaming to develop open acceleration infrastructures, software and middleware to address emerging applications such as machine learning, network functions virtualization, or NFV, genomics, high performance computing, or HPC, and big data analytics. As part of the IBM and Xilinx strategic collaboration, IBM Systems Group developers will create solution stacks for POWER-based servers, storage and middleware systems with Xilinx FPGA accelerators for data center architectures such as OpenStack, Docker, and Spark. IBM will also develop and qualify Xilinx accelerator boards into IBM Power Systems servers. Xilinx is developing and will release POWER-based versions of its leading software defined SDAccel Development Environment and libraries for the OpenPOWER developer community. Additionally, IBM and Xilinx will continue to further utilize IBM's innovative Coherent Accelerator Processor Interface, or CAPI, to deliver accelerated computing value to its clients. CAPI, a unique feature built into the POWER architecture, provides Xilinx and the technology industry at large with the ability to build tightly integrated, coherent solutions right on top of the POWER architecture.
November 12, 2015
05:40 EDTIBMIBM, HCL Technologies announce strategic partnership
IBM and HCL Technologies announced a strategic partnership to jointly build hybrid cloud solutions to help enterprises drive their digital transformations. HCL will use Bluemix, IBM's Cloud platform to build applications and solutions in the areas of Unified Service Management and Internet of Things. HCL will also use IBM Cloud's Infrastructure as a Service, SoftLayer, to offer cloud-based solutions to its clients.
November 11, 2015
13:02 EDTXRXOptions with increasing call volume; TAP SPNC NBG ANF XRX ASNA ODP
November 10, 2015
08:07 EDTIBMIBM closes acquisition of Meteorix
IBM (IBM) announced it completed the acquisition of Meteorix LLC, a Workday (WDAY) services partner. Financial terms were not disclosed. The acquisition will aim to enhance IBM's capability to help companies gain new competitive advantage by aligning people with financial performance and redefining work with the speed and simplicity of cloud-delivered finance and HR services.
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