|Bid||0.00 x 900|
|Ask||0.00 x 1000|
|Day's range||144.21 - 145.79|
|52-week range||137.45 - 171.13|
|PE ratio (TTM)||23.87|
|Earnings date||18 Jul 2018|
|Forward dividend & yield||6.28 (4.35%)|
|1y target est||167.70|
By Jan Wolfe WILMINGTON, Del. (Reuters) - International Business Machines Corp on Monday asked a U.S. jury to award it $167 million in a lawsuit accusing e-commerce marketplace operator Groupon Inc of using patented technology without authorization. IBM lawyer John Desmarais told a jury in federal court in Delaware that Groupon infringed patents describing foundational e-commerce technology that had already been licensed to Amazon Inc, Facebook Inc and Alphabet Inc's Google for between $20 million and $50 million per company. "Groupon has not.
Groupon Inc. built its online coupon business on the back of International Business Machines Corp.’s e-commerce inventions without permission, lawyers for IBM said at the start of a federal trial seeking damages for patent infringement. John Desmarais, a lawyer for IBM, said Chicago-based Groupon arrived "relatively late" to e-commerce and piggybacked on existing technologies. Many companies, including Amazon.com Inc. and Facebook Inc., have bought licenses to use the company’s patented technology, while Groupon hasn’t, he said.
Earlier this month, IBM (IBM) secured a technology contract with the Australian government worth 1.0 billion Australian dollars ($740 million). The five-year contract involves IBM offering automation services to Australia’s federal departments. In an interview with Bloomberg, IBM Asia-Pacific CEO Harriet Green said the Aussie government stands to save as much as 100 million Australian dollars by awarding IBM the technology contract.
IBM's Q2 results to benefit from higher investments in "Strategic Imperatives" which includes cloud computing, mobile, security, analytics, cognitive technologies and AI.
Here are some things going on today in the world of tech: Two more analysts have downgraded Broadcom (AVGO) on its proposed acquisition of CA (CA), sending the stock down $2.18, or 1%, to $207.80. One persistent worry for GPUs has been the ebbs and flows of the cryptocurrency market, but "gamer demand also appears relatively muted,” writes Peterson.
Match Group, Papa John's International, Broadcom, CA and IBM highlighted as Zacks Bull and Bear of the Day
The U.S. Defense Department is running a winner-take-all competition to choose a cloud-computing company to host its trove of information, perhaps including top national-security secrets, so that warfighters and military leaders can make data-driven decisions at "mission-speed." Amazon.com Inc., Microsoft Corp. and International Business Machines Corp. are among those vying for the multibillion-dollar contract. The massive scope of the project, and the Pentagon’s intention to choose just one winner, has caught the attention of the tech industry and U.S. lawmakers. Some technology companies think the Defense Department favors Amazon.
The cost of data breaches is rising, with the largest incidents leading to hundreds of millions of dollars in losses, new data shows. Companies also should consider setting up a similar relationship with a crisis communications team to help maintain consumer confidence in the event of a breach, Mr. Guruswamy said.
Shares of chip giant Broadcom (AVGO) are down $37.22, or 15%, to $206.21, and fell as low as $197.46, after the company last night said it will spend $19 billion in cash to buy CA (CA), the software vendor best known for mainframe programming tools. At the rate the price is going today, the stock is on track to close at its lowest level since Feb. 1st of last, according to Dow Jones' data gurus. Today’s is the largest percentage decline on record for Broadcom.
IBM’s (IBM) Cognitive Solutions segment, which comprises ~23% of its total revenue, is expected to deliver another excellent quarter, driven by strong demand for its Watson AI platform and blockchain offerings. As shown in the graph below, IBM’s Cognitive Solutions revenue has grown at a compound annual rate of 1.4% over the last five quarters.
IBM (IBM) has gained 4.7% in the last five days but has fallen 5.5% in the last year. IBM stock is trading 5.3% higher than its 52-week low of $137.40 and 15.4% lower than its 52-week high of $171.10. The stock has fluctuated over the last year. As shown in the chart below, IBM has produced the lowest returns in the last six months and the highest in the last five days.
IBM’s (IBM) Strategic Imperatives revenue has continued to grow, boosted by its cloud and security business. The Strategic Imperatives business, which comprises its cloud, analytic, mobility, and security business, contributes ~47% of IBM’s overall revenue.
IBM’s (IBM) strong product portfolio has won it huge US and international orders. In the last five quarters, the tech giant has secured deals worth $52.2 billion at an average of ~$10.4 billion every quarter.
IBM’s (IBM) cloud business has continued to grow, fueled by the integration of security features and AI and the migration of data from on-premises to the cloud. As shown in the graph below, IBM’s cloud revenue has grown over the last five quarters, at a compound annual rate of 4.7%.
IBM (IBM), set to release its fiscal Q2 2018 results on July 18, expects fiscal 2018 non-GAAP EPS of $13.80, of which almost 40% is expected to be achieved in fiscal H1 2018. In Q1 2018, the company had non-GAAP EPS of $2.45. Therefore, going by the company’s first-half EPS guidance, it expects Q2 2018 EPS of ~$3.07.
The last time we checked in with DnB, it had sold more than half of its investment in Intel. Norway’s largest and oldest private financial institution (established 1822) slashed its holdings in Intel (INTC) to 1.7 million shares from 3.8 million shares in the first quarter. DnB seemed to have a rethink in the second quarter, however, buying 537,300 more shares of the chip giant and raising its investment to 2.3 million shares as of June 30.