Tag IBM

U.S. stocks were poised to open sharply lower on Thursday, dragged down by growth stocks after dour quarterly results from Meta Platforms, while signs of persistent inflation dampened hopes of the Federal Reserve cutting interest rates anytime soon. Meta plunged 16% in premarket trading after the Facebook-parent forecast higher expenses and lighter-than-expected revenue...

IBM (NYSE: IBM) today announced new storage capabilities that give clients choice and control in the data center to maximize performance. A new IT life cycle management option called IBM Storage Assurance provides access to IBM FlashSystem hardware and software innovations to help protect clients' investments from day one. IBM Storage Assurance supports the new IBM FlashSystem 5300 also announced today, as well as the FlashSystem 7300 and FlashSystem 9500...

The deal demonstrates IBM’s increased focus on software as its consulting business has been hit by decreasing enterprise spending...

Weakness in smaller discretionary projects affected the consulting segment, but analysts at J.P.Morgan said the backlog could help reaccelerate the business through 2024. "Although software acceleration is encouraging, this was offset by more significant-than-expected deterioration of Consulting, along with incremental FX headwinds expected for the rest of the year," analysts at J.P.Morgan said. IBM's software business grew 5.5% in the quarter and the company announced a $6.4 billion deal to buy cloud software company HashiCorp, aiming to make the most of an AI-led boom in demand for the data storage capabilities of the cloud...

Q1 2024 International Business Machines Corp Earnings Call...

U.S. stock index futures slipped on Thursday as shares of most megacap growth stocks took a beating after dour quarterly results from Meta Platforms, ahead of more economic data in the week that could influence the Federal Reserve's monetary policy. Meta plunged 14.1% in premarket trading after the Facebook-parent forecast higher expenses and lighter-than-expected revenue...

International Business Machines acquires HashiCorp for $35 per share in cash. Read more to see my recommendation for HCP investors...

IBM earnings call for the period ending March 31, 2024...

Although the revenue and EPS for IBM (IBM) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers...

HashiCorp went public in late 2021 at an IPO price of $80, but lately it has traded as low as $21, amid heavy losses...