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[waldron] 24/2/2021 20:43

International Business Machines : Strategic Update on IBM Global Financing 02/24/2021 | 02:35pm GMT share with twitter share with LinkedIn share with facebook 24 February 2021 IBM Global Financing (IGF) is continuing to take action to support IBM's hybrid cloud and AI strategy and to optimize IBM's capital structure with the announced make-whole call of the outstanding IBM Credit LLC (IBM Credit) public debt and intent to de-register IBM Credit with the SEC. IBM Global Financing Strategy IGF is the captive financing business of IBM that includes client and commercial financing as well as a hardware remanufacturing and remarketing business. Over the last few years, IGF has taken several strategic actions to focus on higher-value opportunities supporting IBM's hybrid cloud and AI strategy. These actions have improved its go-forward financial and risk profiles - continuing IBM's disciplined portfolio and financial management approach and strengthening IBM's liquidity and balance sheet position. For example, in the second quarter of 2019, IGF began to wind down the portion of its operations that provided short-term working capital solutions for OEM IT suppliers, distributors, and resellers. Additionally, IGF implemented a robust process to reduce certain portions of its remaining financing portfolio as well as its originations in specific industries and geographies. Finally, in the fourth quarter of 2020, it entered into an agreement with a third party to sell up to $3 billion of short-term commercial financing receivables, at any one time, on a revolving basis. Financial Implications These actions have resulted in a more targeted and streamlined financing portfolio, lower overall debt, and an improved risk profile. From 2018 to 2020, IGF external financing receivables were reduced from $32 billion to $18 billion, with a corresponding $10 billion reduction in debt. IGF expects to further reduce external financing receivables and debt in 2021. As a reminder, changes to global financing receivables do not impact IBM's Free Cash Flow.[1] IBM Credit LLC In 2017, IGF's legal entity structure was reorganized to consolidate its operations (except for the remanufacturing and remarketing business) under IBM Credit LLC, a wholly owned subsidiary of IBM. This enabled operational benefits as well as enhanced clarity around the financing business. At the same time, IBM Credit registered with the SEC to facilitate the issuance of its own public debt as an alternative funding source from its parent. Since the reorganization, IBM Credit has issued $7 billion of public term debt, of which $1.75 billion remains outstanding. Due to the evolution of the IGF strategy, IBM Credit will no longer require direct access to the capital markets as its on-going financing requirements will be met through IBM. As a result, IBM Credit intends to de-register with the SEC and will no longer file its own financial information. To effectuate this change, on February 24, 2021, IBM Credit announced a make-whole call for its outstanding public debt of $1.75 billion, which will result in the retirement of all outstanding public debt issued by IBM Credit. To ensure visibility to the financing business, IBM's future reporting will provide enhanced IGF segment disclosures including a separate segment balance sheet and additional relevant information previously reported in the IBM Credit SEC filings. [1]IBM's Free Cash Flow is defined as Net Cash from Operating Activities less the change in Global Financing Receivables and Net Capital Expenditures, including the investment in software. For additional information regarding IBM Global Financing including a detailed description of its business, please see the most recent IBM 10-K accessible through the IBM Investor Relations website at www.ibm.com/investor. Download a PDF of this article (46 KB) Attachments Original document Permalink Disclaimer IBM - International Business Machines Corporation published this content on 24 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2021 14:34:01 UTC.

[energeticbacker] 12/2/2021 10:04

IBM has been found wanting in the technology stakes and disappointed investors for years, so much so that investing in IBM has represented a classic ‘value trap’. All the same, with a new, more forward thinking CEO at the helm, Investor's Champion thinks ‘Big Blue’ is starting to look interesting again, for all the right reasons, as their latest research reveals.

[la forge] 02/2/2021 22:46

Upcoming events on INTERNATIONAL BUSINESS MACHINES CORPORATION FEBRUARY/09/2021 Ex-dividend day

[florenceorbis] 25/1/2021 11:00

Shares of technology companies fell after disappointing earnings from two old-school tech giants. Shares of Intel tumbled after the chip maker appeared to drag its heels on previously divulged plans to outsource some of its semiconductor manufacturing, a move investors expect will boost profitability. Shares of computer-services stalwart International Business Machines fell after it posted another decline in quarterly sales, as diminishing revenue continues to dog the company. Online retailer Amazon.com is seeking to postpone a unionization vote at a warehouse in Alabama and is asking federal labor authorities to reconsider a decision to allow mail-in voting due to the pandemic. Write to Rob Curran at [e-mail] (END) Dow Jones Newswires 01-22-21 1724ET

[florenceorbis] 25/1/2021 10:57

Https://www.marketscreener.com/quote/stock/INTERNATIONAL-BUSINESS-MA-4828/ International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems and Global Financing. The Cloud & Cognitive Software Solutions segment delivers integrated and secure cloud, data and artificial intelligence (AI) solutions to its clients. It comprises three business areas: cognitive applications, cloud & data platforms, and transaction processing platforms. Global Business Services segment provides consulting, business process and application management services. Its Global Technology Services segment provides information technology (IT) infrastructure and platform services. The Systems segment provides infrastructure platforms to help meet the requirements of multi-cloud and enterprise AI workloads. Its Global Financing segment is engaged in financing, which is primarily conducted through IBM Credit LLC, and remanufacturing and remarketing.

[mill5ey] 21/12/2018 11:14

gotta be a solid buy at that price, being dragged down by external circumstances

[eriktherock] 13/5/2017 19:09

Long CFD @150 USD

[essentialinvestor] 15/11/2015 13:30

Over 2 years since the last post here. Any one consider on a longer tern view that IBM is beginning to look interesting around these levels?.

[waldron] 01/5/2013 14:05

http://www.bbc.co.uk/news/science-environment-22358861

[waldron] 21/4/2013 07:00

UPDATE: IBM Shares Post Biggest Drop in 8 Years After Weak Earnings PrintAlert IBM (NYSE:IBM) Intraday Stock Chart Today : Sunday 21 April 2013 (Updates to reflect closing stock price in paragraphs one, six and seven.) By George Stahl and Drew FitzGerald International Business Machines Corp. (IBM) shares posted their biggest one-day percentage drop in eight years Friday, after a disappointing first-quarter earnings report raised doubts about the company's growth prospects this year. The Armonk, N.Y., company's earnings--excluding certain exceptional costs--rose 8% in the first quarter, below the double-digit percentage increase investors have grown to expect. IBM pointed to contracts slipping from the first quarter into the second quarter, possibly because of the early Easter; a slowdown in business spending in China; and the weakening yen. Morgan Stanley called the results "surprisingly weak for a company that rarely misses." "With a long list of reasons--Easter, China, yen to name a few--we think investors are unlikely to give the company the benefit of the doubt that all engines will resume full speed within the year," Morgan Stanley analyst Katy Huberty said in a report to clients. IBM Chief Financial Officer Mark Loughridge Thursday backed the company's 2013 per-share earnings forecast and said he expects earnings to return to double-digit growth by the fourth quarter. Shares of IBM fell $17.15, or 8.3%, to $190. The decline produced the stock's lowest close since Dec. 28, its biggest dollar drop since October 2000 and its largest percentage decrease since April 15, 2005. The stock closed near its low for the day of $189.76. IBM, as one of the 30 stocks in the Dow Jones Industrial Average, contributed a negative 132 points to the average's decline, and it was the reason why the Dow didn't gain as much as the other major market indexes. In its first quarter, IBM's sales of software and server products were particularly weak, which the company blamed in part on deals not getting done in time. "We had solid profit performance in January, but as the quarter ended, hundreds of millions of dollars of very profitable software and...mainframe deals fell short of the goal line," Mr. Loughridge said. "It's hard to imagine that we weren't affected by Easter" being in late March, instead of April. Mr. Loughridge added that belt-tightening in the Chinese corporate sector caught IBM's management a bit offguard, though he suggested much of the blame lay with sales teams failing to close deals before the quarter ended. IBM said much of that business will show up when the company reports its next results. Despite expectations some lost first-quarter deals will fall to the second quarter, IBM does expect to ramp up job cuts this quarter. Mr. Loughridge didn't disclose the number of layoffs, saying management hadn't yet approved final plans, but he expects to report close to $1 billion of accounting charges this year to trim its workforce--more than last year--with heavier reductions planned for the coming months outside the U.S. Also, IBM is in advanced discussions with Lenovo Group Ltd. (0992.HK, LNVGY) to sell part of its computer-server business, The Wall Street Journal reported, citing people familiar with the matter. At issue is IBM's business of selling so-called x86 servers, the low-priced workhorses of many corporate and cloud-based data centers. An exact sale price isn't known, WSJ reported, but one of the people said the deal could be worth billions of dollars. Mr. Loughridge declined to comment on the report. The x86 servers were once a fast-growing and lucrative technology, but now produce the server market's lowest profit, industry analysts say. Such a move would fit into IBM's history of aggressively shifting its business mix to areas with better growth and higher profit margins, just as it did by selling its computer business to Lenovo in 2004. IBM doesn't break out server revenue, but Morgan Stanley estimates the x86 server business generated about $4.9 billion of the company's $15.4 billion in server sales last year. Ms. Huberty noted the last two times IBM missed earnings also were in the first quarter, in 2002 and 2005, and were followed by restructuring actions and share underperformance. IBM shares ended up falling 36% in 2002 and 17% in 2005. Even with the losses Friday, IBM's shares are down less than 1% in 2013. Mr. Loughridge also blamed the "significant depreciation of the yen" for the company's first-quarter results. "Our business in Japan is more heavily skewed to local services, [so] the ability to hedge cross-border cash flows is low compared to most other countries," the chief financial officer said. "This had a profit impact in the quarter." Despite the disappointing results and stock selloff Friday, many analysts remained positive on IBM. "We are not overly concerned as issues appear short-term in nature and results are decent in light of bigger shortfalls at" other companies that rely on business spending, such as Oracle Corp. (ORCL), said Shaw Wu, analyst at Sterne Agee. Write to George Stahl at [e-mail] and Drew FitzGerald at [e-mail]

[waldron] 19/4/2013 06:24

2nd UPDATE: IBM in Talks to Sell Part of Its Server Unit to Lenovo PrintAlert (Adds Lenovo confirmation in the sixth paragraph.) By  Spencer E. Ante And  Sharon Terlep International Business Machines Corp. is looking to part ways with the servers that have powered much of the Internet. The company is in advanced discussions to sell its so-called x86 server business to China's Lenovo Group Ltd., people familiar with the matter said. An exact sale price wasn't known, but one of the people said a deal, if one is struck, could be worth billions of dollars. IBM doesn't break out server revenue, but Morgan Stanley estimates the x86 server business generated about $4.9 billion of the company's $15.4 billion in server sales last year. News of the talks surfaced as IBM reported a disappointing quarter, with particularly weak hardware sales. IBM's shares dropped 4.9% in after-hours trading on Thursday. Lenovo said in a separate statement to the Hong Kong stock exchange that it is in preliminary negotiations with a "third party in connection with a potential acquisition." But it said it had not reached any agreements. As when IBM announced plans to sell its personal computer business in 2004-also to Lenovo-a sale would signal a sea change in the computing market. The x86 servers were once a fast-growing and lucrative technology that lifted sales at companies like Hewlett-Packard Co. and Dell Inc., which still rely on them for billions of dollars in sales. IBM, having struggled to compete with those companies, now may stop selling a product that produces the server market's highest volumes but lowest profit, according to industry analysts. In 2012, IBM was the No. 3 player in the low-end server market after H-P and Dell, according to technology research firm Gartner. IBM ended the year with 15% of the market by revenue, down from 16.4% in 2011, according to Gartner. Meanwhile, H-P's share fell to 32.4% from 35%, and Dell's slipped to 21.4% from 21.8%. Dell said it has seen strong growth in x86 servers. A spokesman for H-P declined to comment. It wasn't clear how advanced IBM's talks with Lenovo were or whether a deal would materialize. Technology trade publication CRN reported the talks earlier Thursday. IBM has a history of aggressively shifting its business mix to areas with better growth and higher profit margins. The company shocked the technology industry when it agreed to sell off its PC business to Lenovo before personal computers had been largely commoditized. IBM then beefed up its operations in higher margin software and consulting businesses. A sale of the low-end part of the server business would fit this pattern, as new Chief Executive Virginia "Ginni" Rometty looks for ways to expand the company's revenue and earnings. A divestiture of the x86 business would mark Ms. Rometty's first major asset sale since taking over the top job a year ago. IBM is likely to hold on to the higher end parts of its server business where it can generate a competitive advantage. IBM invests billions of dollars in research and development to help fuel the development of its mainframe computer business, where it remains the industry's dominant player. The company makes the computer chips, operating system and much of the infrastructure software that powers those machines. The acquisition marks a significant shift in strategy for Lenovo as the Chinese company has primarily focused on PCs. Nonetheless, it has taken some steps to boost its server business. In an agreement last summer, Lenovo began cooperation with U.S. data-storage provider EMC Corp. to jointly develop and sell servers and network storage, a move broadly seen as a play by Lenovo to boost a still nascent business for the company. Lenovo Chief Executive Yang Yuanqing said at the time the company is first targeting the China market before going abroad, and it is the company's goal to become the country's biggest provider of servers. Lenovo is a small but fast-growing player in the low end server market. Last year, the company saw more than $360 million in worldwide x86 server sales, up from about $154 million in 2010, according to tech research firm Gartner. News of a possible sale came as IBM ran into trouble in the first quarter of 2013. The company said its profit fell 1% to $3.03 billion as its revenue dropped 5% to $23.41 billion. The computer hardware business was a particular area of weakness. Total revenue for hardware systems declined 13% in the first quarter, and the business reported a pretax loss of $405 million. While sales of mainframes rose 7%, sales of IBM's x86 products-"System x"-fell 9%. The market for x86 servers, named for the chip design used by Intel Corp. and Advanced Micro Devices Inc., grew quickly in the 1990s as the Internet took off. But technologies like "virtualization" let users squeeze more power out of fewer machines. Moreover, some high-growth Internet companies like Google Inc., which in the past would typically have purchased large numbers of x86 servers to power websites, now make their own, hurting the growth potential of the market. Juro Osawa, Paul Mozur and Ian Sherr contributed to this article. Subscribe to WSJ: http://online.wsj.com?mod=djnwires

[waldron] 18/4/2013 06:23

http://www.4-traders.com/INTERNATIONAL-BUSINESS-MA-4828/calendar/

[waldron] 10/4/2013 16:19

De sources de marché, le broker UBS (Xetra: UB0BL6 - actualité) vient de revoir à la hausse, de "neutre" à "acheter", sa recommandation sur le titre IBM (NYSE: IBM - actualité) à Wall Street. L'objectif de cours est fixé à 235$. Le Groupe publiera ses résultats trimestriels le 18 avril prochain....

[waldron] 31/3/2013 20:58

http://uk.finance.yahoo.com/news/chinese-tech-giant-lenovo-eyes-220034289.html

[energyi] 27/1/2012 14:47

IBM = In-Built-Momentum : Up or Down ? 5 day chart Daily- delayed Weekly xx === === SPY-15min T7 - delayed T8 - delayed

[spob] 15/11/2011 08:10

http://www.smh.com.au/business/buffetts-ibm-buy-a-lesson-in-patience-20111115-1ngek.html http://blogs.wsj.com/totalreturn/2011/11/14/what-buffetts-mentor-thought-of-ibm/?mod=google_news_blog http://www.guardian.co.uk/business/2011/nov/14/warren-buffett-buys-ibm-stake

[dil] 11/3/2004 20:33

lol , we live and learn (but I always knew a bit more about them than I ever let on) :-)

[march] 11/3/2004 19:16

>Gausie :-)