IBM - International Business Machines Corporation
| Previous close | 149.63 |
| Open | 149.96 |
| Bid | 149.73 x 900 |
| Ask | 150.00 x 1000 |
| Day's range | 149.55 - 151.58 |
| 52-week range | 105.94 - 154.36 |
| Volume | 7,290,678 |
| Avg. volume | 3,434,512 |
| Market cap | 132.713B |
| Beta (3Y monthly) | 1.55 |
| PE ratio (TTM) | 15.46 |
| EPS (TTM) | 9.68 |
| Earnings date | 16 Oct 2019 |
| Forward dividend & yield | 6.48 (4.33%) |
| Ex-dividend date | 2019-05-09 |
| 1y target est | 148.37 |
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International Business Machines Corp - Doc re: Form 8-K
Company INTERNATIONAL BUSINESS MACHINES CORPORATION TIDM IBM Headline Notification of filing of document The Corporation's current report on Form 8-K dated July 18, 2019 was filed with the United ...
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Trump Says He’s Looking ‘Very Seriously’ at Pentagon Cloud Deal
(Bloomberg) -- President Donald Trump said he’s looking “very seriously” at a cloud-computing contract valued at as much as $10 billion that the Pentagon is likely to award to Amazon.com Inc. next month.“I’m getting tremendous complaints about the contract with the Pentagon and with Amazon,” he told reporters Thursday during a meeting with Netherlands Prime Minister Mark Rutte at the White House.The contract wasn’t competitively bid, Trump said. The Pentagon is holding a competition for the contract, but Trump said that companies are complaining that the terms favor Amazon, the dominant player in cloud computing services. Microsoft Corp. is the only other company that hasn’t been eliminated from consideration.Bloomberg News reported Wednesday that Trump recently raised concerns about the contract with aides after learning of correspondence Republican lawmakers have exchanged with the Pentagon and the White House criticizing the bidding process.Some Republicans have alleged that the contract’s terms were crafted from the start to favor Amazon, and that there were conflicts of interest involving the company as the Pentagon considered bids.“I will be asking them to look at it very closely to see what’s going on,” Trump said in apparent reference to the Defense Department, “because I have had very few things where there’s been such complaining. Not only complaining from the media -- or at least asking questions about it from the media -- but complaining from different companies like Microsoft and Oracle and IBM. Great companies are complaining about it.”Some supporters of the Pentagon process pushed back on Trump’s comments. Four House Republicans on the Armed Service Committee, including ranking member Mac Thornberry, wrote a letter to Trump on Thursday saying “it is essential for national security” to move forward with the contract “as quickly as possible.”“Further delays will only damage our security and increase the costs of the contract,” they wrote.Trump and BezosWhile Trump didn’t mention Amazon founder Jeff Bezos by name on Thursday, he has long denounced the billionaire in tweets criticizing him on many fronts -- from the shipping rates his company pays the U.S. Postal Service to his personal ownership of what Trump calls “the Amazon Washington Post.”Oracle Corp. has fought the contract process and has led a fierce lobbying campaign against the Pentagon’s plans to award the project, known as Joint Enterprise Defense Infrastructure or JEDI, to a single bidder. But the company lost a legal challenge last week contesting the terms of the bid and alleging the Pentagon had crafted unfair requirements and that there were conflicts of interest involving Amazon.In April 2018, Oracle’s Chief Executive Officer Safra Catz dined with Trump at the White House and complained that the contract terms seemed designed for Amazon to win, Bloomberg has reported. The final requirements for the contract were released in July of that year.International Business Machines Corp. said in a statement after Trump’s comments that it “has long raised serious concerns about the structure of the JEDI procurement. We continue to believe that the Department of Defense and our men and women in uniform would be best served by a multi-cloud strategy” rather than the Pentagon’s plan for a winner-take-all award.Oracle and Microsoft had no comment on Trump’s remarks.“We are aware of the remarks and have nothing to add at this time,” Elissa Smith, a Defense Department spokeswoman, said in an email.Intervention’s RarePresidents and their advisers often set out their visions for defense spending and technology priorities, and Trump has spoken out on matters from the cost of F-35 fighter jets to paint colors for new Air Force One planes.But it’s rare for a commander-in-chief to intervene in specific Defense Department contract competitions because they are governed by extensive laws and regulations intended to wall off billion-dollar awards from political influence, according to experts on the contracting process.“The system is explicitly set up to prevent political officials from being able to influence the outcome of a contract,” said Stan Soloway, chief executive officer of Celero Strategies LLC. The president “can’t pick winners and losers.”Federal agencies have to clearly outline the requirements and criteria they will use to choose a winning bid. Losing bidders can challenge a decision to the Government Accountability Office or in the Court of Federal Claims, contending that the ground rules set in a solicitation weren’t followed. Oracle already has lost a court case challenging the handling of the JEDI contract.But a president has more freedom to exert influence over a project’s structure and acquisition strategy, which could effectively help some companies and hurt others, said Trey Hodgkins, the chief executive officer and founder of Hodgkins Consulting.“He can shine a spotlight on the process and ask the question: Is this the best option for the warfighter? Is this the best deal for the taxpayer?” Hodgkins said. “I don’t know that it would be politically prudent to ignore executive-level scrutiny of the decision making process.”(Updates with lawmakers’ letter starting in seventh paragraph.)To contact the reporters on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.net;Naomi Nix in Washington at nnix1@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, ;Sara Forden at sforden@bloomberg.net, Justin Blum, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CNBC•3 days agoCramer: IBM earnings prove the company paid the right price for Red Hat
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Trump Expressed Concern About Pentagon Cloud-Computing Contract
(Bloomberg) -- President Donald Trump recently demanded more information about how the Pentagon crafted a massive cloud-computing contract it’s poised to award to Amazon.com Inc. or Microsoft Corp., in order to decide whether he should intervene.The Defense Department is set to give the contract, worth as much as $10 billion over ten years, to one of the two companies next month. Amazon, whose cloud-computing technology leads the market, is seen as the favorite.But Trump recently was made aware of letters Republican members of Congress have written to the White House and military leaders complaining that the contract’s terms froze some companies -- including Oracle Corp. -- out of the competition, according to two people familiar with the matter. Trump expressed frustration he wasn’t aware of the concerns and asked aides to show him the correspondence, the people said.Trump said he’s interested in looking into the circumstances of the bid but didn’t indicate he’ll try to block the contract from being awarded to one of the two finalists, they said.Senate Homeland Security Chairman Ron Johnson, a Wisconsin Republican who recently wrote to the Pentagon to express concerns about the contract, said in an interview that he discussed it with the president aboard Air Force One last week.“He wanted to understand what the issues were, what our concerns were,” Johnson said in an interview.Senator Marco Rubio, a Florida Republican, sent a letter to National Security Adviser John Bolton on Thursday asking him to delay the contract award, saying the bid “suffers from a lack of competition.” Trump and Rubio spoke about the contract by phone the next day, a Rubio spokesman said.A person familiar with the call said that it sounded as if Trump was thinking about canceling the contract.All of the people asked not to be identified discussing a sensitive procurement issue. Spokesmen for the White House and Pentagon didn’t immediately respond to requests for comment.While Trump has leaned on defense contractors to reduce costs on contracts they already hold -- and even to paint new Air Force One planes in his choice of colors -- it may be unprecedented for a president to intervene in a defense contract competition while it’s underway.The cloud-computing program, known as Joint Enterprise Defense Infrastructure or JEDI, has been contentious. Legacy tech companies including Oracle and International Business Machines Corp. waged a fierce lobbying and legal campaign against the Pentagon’s plan to award the contract to a single company.“Nothing good can come from President Trump becoming personally involved in an individual procurement, particularly one of this complexity,” said Steven Schooner, a professor of government procurement law at George Washington University. “Historically, the system has operated best with limited -- to no -- high-level political involvement.”Oracle lost a legal challenge last week contesting the terms of the bid and alleging the Pentagon had crafted unfair requirements and that there were conflicts of interest involving Amazon. Republican lawmakers have taken up Oracle’s cause, pressuring the White House to intervene in the Pentagon project.Oracle at one point coordinated with at least seven other companies including Microsoft and SAP America to try to block Amazon from winning the entire contract, Bloomberg News has reported. Amazon has already won a contract with the Central Intelligence Agency.Oracle declined to comment for the story.For More: Inside the Nasty Battle to Stymie Amazon’s Pentagon Cloud BidIn April 2018, Oracle Corp. Chief Executive Officer Safra Catz dined with Trump at the White House and complained that it seemed designed for Amazon to win, Bloomberg has reported. The final requirements for the contract were released in July of that year.The White House raised concerns about the contract with senior Pentagon leaders while they were still drafting the final requirements for the deal, according to a person familiar with the matter.(Updates with expert comment in 12th paragraph. The spelling of Oracle CEO Safra Catz’s name was corrected in a previous version of the story.)To contact the reporters on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.net;Naomi Nix in Washington at nnix1@bloomberg.net;Steven T. Dennis in Washington at sdennis17@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Sara FordenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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International Business Machines Corp - Doc re Form 8-K
Company INTERNATIONAL BUSINESS MACHINES CORPORATION TIDM IBM Headline Notification of filing of document The Corporation's current report on Form 8-K dated was filed with the ...
Motley Fool•3 days agoInternational Business Machines Corp (IBM) Q2 2019 Earnings Call Transcript
IBM earnings call for the period ending June 30, 2019.
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(Bloomberg) -- International Business Machines Corp. shares slipped after executives were tight-lipped about the company’s $34 billion Red Hat acquisition and how it will help growth in cloud computing.The deal closed last week and IBM reported quarterly results on Wednesday. Analysts tuned into a conference call to glean fresh details on the impact of adding Red Hat’s open-source software to IBM’s current offerings. But Chief Financial Officer Jim Kavanaugh declined to answer any questions on Red Hat, saying the company will share an updated financial forecast at its annual investor briefing on Aug. 2.“Everyone is looking forward to this investor update," Edward Jones analyst Logan Purk said. “It’s paramount that IBM really nails that."Second-quarter revenue fell 4.2 percent to $19.2 billion, slightly beating the average analyst estimate. It was the fourth consecutive quarter of revenue declines for the Armonk, New York-based company. The shares declined 1.5% in extended trading.After lagging in the cloud market for more than a decade, IBM is pegging its future to a hybrid cloud strategy that will allow it to offer services on both private and rival public clouds. Chief Executive Officer Ginni Rometty paid a rich premium for Red Hat in order to help the 108-year-old company catch up with cloud market leaders Amazon.com Inc. and Microsoft Corp. The deal officially closed last week, so Red Hat’s contribution hasn’t shown up in IBM’s quarterly financial reports yet.Rometty has touted the Red Hat deal, which was announced in October, as a “game changer” for IBM, claiming it will reset the entire cloud landscape. IBM has estimated only 20% of enterprise applications have made the shift to cloud so far and Rometty believes the company is in prime position to conquer the remaining market.This quarter’s results are significant because they represent the last clean read of IBM’s trajectory before the integration of Red Hat, Sanford C. Bernstein analysts Toni Sacconaghi and Corry Wang wrote in a note before the results were released.Revenue in the global technology services unit, which includes cloud infrastructure and technology support, was $6.8 billion, down 6.7%, from a year earlier. The division shrank by the same amount in the previous quarter.The drop was the result of IBM ending some unprofitable businesses, Kavanaugh said. "We will see improvements of those numbers as we get into the second half," he added. Technology services is IBM’s biggest business unit, pulling in almost 40% of total sales.Earnings excluding some costs were $3.17 a share in the three months ending June 30, higher than the $3.08 average Wall Street estimate. For the full fiscal year, IBM stuck to a forecast of at least $13.90 a share.Big Blue has reported shrinking revenue growth since 2012. There was a modest and temporary reprieve in early 2018, but the slight uptick in sales stemmed from its legacy mainframe computers, rather than newer technologies like artificial intelligence, and cloud computing. In the second quarter, IBM reported revenue growth of 3.2% in cloud and cognitive solutions, stronger than in the previous quarter.IBM’s lackluster sales are due to a cannibalization of its legacy technology and data centers, Wedbush Securities Inc. analyst Moshe Katri said in an interview before the results were released. While the company has made significant strides toward new technologies like cloud computing, these services are capital and labor light, Katri said. “It’s time to grow that business and make it really count for overall top-line growth,” he said.The future of IBM is hybrid cloud, said Ian Campbell, chief executive officer of Nucleus Research. “But the biggest challenge is they are very late to the cloud party,” he said. Amazon Web Services and Microsoft Azure have dominated the public cloud space for years and IBM, once a tech titan, is considered small-fry in comparison. “Cloud is the make or break for IBM, but nobody even knows they’re there," Campbell said.On Tuesday, IBM announced that AT&T Inc. would be shifting its internal software applications to the IBM cloud in a multi-year agreement. This is mutually beneficial for both companies, Campbell said. “But it feels like two B-list celebrities announcing an engagement in the hopes of becoming an A-lister,” he added. “This is not going to move the needle."To contact the reporter on this story: Olivia Carville in New York at ocarville1@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Molly Schuetz, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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