Year: 2020

(Bloomberg) — International Business Machines Corp. beat analysts’ estimates for revenue in the second quarter, with cloud sales helping offset coronavirus-fueled declines in its consulting services business. The shares gained in late trading.The Armonk, New York-based company reported total cloud revenue increased 30% to $6.3 billion in the second quarter. That helped offset revenue declines in the tech support units Global Business Services and Global Technology Services, which account for about 56% of IBM’s total revenue. Overall, sales fell 5.4% to $18.1 billion, beating the $17.62 billion analysts had expected, according to data compiled by Bloomberg.Covid-19 has hit IBM’s services …read more […]

IBM has jettisoned some of its legacy business to focus on cloud computing, an area that has seen a lot of action in recent years as companies ramp up their digital shift to control costs and boost efficiency. Revenue from the cloud business, previously headed by IBM’s new boss Arvind Krishna, rose 30% to $6.3 billion. Krishna took over as chief executive officer from Ginni Rometty in April, while appointing former Bank of America Corp’s top technology executive Howard Boville as the new head of IBM’s cloud business. …read more […]

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International Business Machines Corp posted quarterly revenue and profit above analysts’ estimates on Monday, riding on the strength of its high-margin cloud computing business. IBM has jettisoned some of its legacy business to focus on cloud computing, an area that has seen a lot of action in recent years as companies ramp up their digital shift to control costs and boost efficiency. Revenue from the cloud business, previously headed by IBM’s new boss Arvind Krishna, rose 30% to $6.3 billion in the second quarter. …read more […]

In a new interview on Fox News, President Trump vows to approve new health care and immigration plans within ‘the next four weeks.’ Yahoo Finance’s Rick Newman and Akiko Fujita discuss. …read more […]

Roy Den Hollander was found dead two hours from the site of the New Jersey attackThe post Suspect In Slaying Of Federal Judge’s Son Was Columbia MBA appeared first on Poets&Quants. …read more […]

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The healthcare sector took its place among the winners this year, rising 21%, compared to the S&P 500’s 0.5% growth. The bottom-line for investors? Wall Street’s focus is on the healthcare space, locking in on biotechs in particular.It should be noted that these stocks are risky in nature, with their shares prone to explosive movements on account of only a few key catalysts like updates on clinical studies or regulatory approvals. The good news is that a favorable outcome can drive massive share price appreciation. However, the bad news is that the opposite holds true.Given this volatility, it can be …read more […]

(Bloomberg) — WeWork cofounder Adam Neumann is seeking a buyer for his 11-acre property in Corte Madera, California, after paying $21.4 million for the estate in 2018.The home, located about 15 miles north of San Francisco, will be listed at $27.5 million, according to a person familiar with the matter, who requested anonymity because the deliberations are private.A spokesman for Neumann confirmed the potential sale.Neumann amassed multiple homes across the U.S., including New York, when WeWork was one of the most valuable startups on the planet. Now he’s entangled in a legal battle with SoftBank Group Corp. after the Japanese …read more […]

With the U.S. coronavirus case count zeroing in on 4 million, health experts ramped up their calls for a stronger federal leadership. …read more […]

(Bloomberg) — As the old stock market adage has it, buy the rumor, sell the fact. For investors who bought shares of Denbury Resources Inc. early Monday, it might be buy the fake news release, sell on the official denial.At 5:51 a.m. New York time, a statement carried by press release service Accesswire and purporting to be from the Texan oil driller said the company received a takeover offer at $1.20 a a share.Denbury’s stock more almost tripled in pre-market trading, only to pare those gains after CEO Chris Kendall told Bloomberg News the release was “completely fraudulent.” The company …read more […]

Wells Fargo Asset Management Multi-Asset Strategist Brian Jacobsen joins Yahoo Finance’s Akiko Fujita to discuss what to expect from upcoming earnings. …read more […]

Shares in AstraZeneca (AZN) dropped 3.5% even after early-stage human trial data from its Covid-19 vaccine candidate showed “robust” immune responses.The stock declined to $58.96 in afternoon market trading. Interim data results from the ongoing Phase I/II trial of the potential coronavirus vaccine, also known as AZD1222, which AstraZeneca is developing with Oxford University, showed “strong” antibody and immune T-cell responses.“While there is more work to be done, today’s data increases our confidence that the vaccine will work and allows us to continue our plans to manufacture the vaccine at scale for broad and equitable access around the world,” said …read more […]

Over the last few years – and certainly since the March crash – tech stocks have been on a tear. However, veteran tech giant IBM (IBM) has found it difficult to keep up, and has lagged behind the whole market. Yet, with F2Q earnings due today after market close, could sentiment be changing?With the Street calling for a year-over-year drop of 35% to revenue of $17.7 billion and EPS to decline by 8% to $2.07, Merrill Lynch analyst Wamsi Mohan argues the low expectations could provide IBM with a minor victory when it releases its quarterly statement this evening.Mohan said, …read more […]

Both calls and puts are being order up at an unusual rate today …read more […]