IBM sees earnings and revenues shrink in fourth quarter
The computing giant also reported lower earnings and sales for 2020 as a whole, the seventh year in a row that its earnings have shrunk
Company
NYSE:IBM
International Business Machines Corp is a provider of hybrid cloud and artificial intelligence (AI) and business services. The company provides integrated solutions and products that use data, information technology in industries and business processes. Its segments include Software, Consulting, Infrastructure and Financing.
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The computing giant also reported lower earnings and sales for 2020 as a whole, the seventh year in a row that its earnings have shrunk
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Few fireworks went off in New York as traders began to unwind ahead of the festive season
The two investigations by the regulator have run for almost 15 years and focused on IBM allegedly breaking the rules of the ‘E-Rate’ program, a service that provides discounted telecommunications services to US schools and libraries
'Big Blue' saw its third-quarter numbers boosted by higher demand for its cloud services, with revenue from that business rising by 19% to $6 billion in the quarter
The computing giant said a new company, centred on its legacy IT infrastructure business, will be unveiled next year and spun out from the existing firm
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The major averages are higher for October after clawing back losses suffered in September -- the market’s first negative month since March
In the third quarter to September 30, group revenue came in at US$18.03 billion compared to analysts' expectations of US$18.22 billion
Also moving Wednesday were Qaulcomm and Apple, IBM, Intel, United Continental and CSX
Also in play in New York trading are Synchrony Financial and Procter & Gamble
The company styles itself as a “full-service technology commercialization company” specializing in enterprise software solutions, security token offerings, strategic portfolio investments and joint ventures
Ohio approved medical marijuana in 2016, but a lack of operating testing labs has delayed the process
Also in the frame in pre-market deals is Esperion Therapeutics Inc and auto parts suppliers group Dana
Hardware & electrical equipment
Acquisition is a game changer for the cloud industry now worth over $1 trillion
Ticketmaster acquired blockchain-based live events company Upgrade to add encrypted barcodes to its tickets
Also in focus is the start of recreational cannabis sales in Canada and a rise in airline stocks after a Deutsche note
IBM is partnering with European supermarket Carrefour to launch the IBM Food Trust, a blockchain-based food tracker
AT&T’s blockchain tech is designed to work with Microsoft’s Azure and IBM’s Blockchain platform
Leafly, an online consumer guide to marijuana dispensaries, has ousted CEO Chris Jeffrey over concerns about his management
The blockchain was reported to have reached a benchmark of 30,000 transactions per second after it was tested across 1,000 nodes in 14 countries
The Horizons Marijuana Life Sciences ETF has welcomed Choom, a Canadian cannabis company with a Hawaiian twist