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IBM

IBM

$141.16

-1.47 (-1.03%)

14:26
05/31/18
05/31
14:26
05/31/18
14:26

Morgan Stanley says report on 'mass layoffs' in IBM's Watson Health 'misleading'

Morgan Stanley analyst Katy Huberty said a report from The Register blog that implies "mass layoffs" in IBM's Watson Health unit are "misleading," stating that any such layoffs come after IBM reported $613M in restructuring with its April 17 earnings call and detailed about $100M of that was related to the Cognitive business division. The timing of the March restructuring charge aligns with fully integrating businesses such as Truven Health Analytics and Merge Healthcare into Watson Health, she added. As recently as its March investor day, IBM discussed aggressive hiring in strategic areas like oncology within Watson Health, suggesting any layoffs are gross reductions though its net headcount in Watson Health is likely still expanding, added Huberty, who has an Overweight rating and $198 price target on IBM shares.

  • 04

    Jun

IBM IBM
$141.16

-1.47 (-1.03%)

04/26/18
DADA
04/26/18
INITIATION
Target $72
DADA
Buy
Pegasystems initiated with a Buy at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Pegasystems (PEGA) with a Buy rating and a price target of $72, citing the company's market leading position in the business process management and case management markets amid the crowing presence of customer relationship management technologies. Jaluria says the company continues to take market share from legacy vendors like IBM (IBM) and Oracle (ORCL) and increasing its competitive position in CRM, while driving opportunities for margin expansion.
04/18/18
STFL
04/18/18
NO CHANGE
Target $182
STFL
Buy
IBM fundamentals may be more stable than they seem, says Stifel
Stifel analyst David Grossman blames IBM's pretax margins coming in below estimates, as well as the run-up in the stock ahead of earnings, for the afterhours pullback in the stock. While he finds it "a bit hypocritical to reward companies that pro forma out restructuring actions" and penalize IBM for leaving them in, he believes that should normalize over time if the company executes. Grossman, who still likes IBM as a defensive name with catalysts, sees support at a 4% dividend yield, or about $150 per share, which he said "is where large cap legacy tech typically bottoms." He maintains a Buy rating and $182 price target on the shares.
04/18/18
LEHM
04/18/18
NO CHANGE
Target $188
LEHM
Overweight
IBM shares to be under pressure in near term, says Barclays
Barclays analyst Mark Moskowitz expects shares of IBM to be under pressure in the near term following last night's Q1 results. The analyst lowered his price target for the stock to $188 from $192 but keeps an Overweight rating on the name. The lack of revenue growth "may not be a backbreaker," but IBM's "perplexing declaration" that gross margin "stabilization" has arrived despite Q1's 30 basis point year-over-year will likely frustrate investors, Moskowitz tells investors in a post-earnings research note. He thinks investors regard stabilization as meaning gross margin is heading higher and not just exhibiting moderating year-over-year declines.
04/18/18
CANT
04/18/18
NO CHANGE
Target $152
CANT
Neutral
IBM needs growth, margin expansion for higher valuation, says Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph Foresi keeps a Neutral rating on IBM with a $152 price target following last night's Q1 results. He believes a return to consistent organic growth and margin expansion are necessary for sustainable multiple expansion from present levels. IBM had flat constant currency growth due to underperformance in its storage segment, Foresi tells investors in a post-earnings research note. He notes, however, that management appeared optimistic regarding long-term margin improvement after the quarterly restructuring. The analyst awaits better visibility on IBM's ability to consistently grow the business and scale margins before getting more constructive on the stock.

TODAY'S FREE FLY STORIES

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General news
OECD cautiously optimistic on world growth. »

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FB

Facebook

$132.47

0.85 (0.65%)

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SPI

SPI Energy

$2.36

0.06 (2.61%)

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IQ

iQIYI

$19.08

-0.43 (-2.20%)

, GOOG

Alphabet

$1,026.00

7 (0.69%)

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$19.08

-0.43 (-2.20%)

GOOG

Alphabet

$1,026.00

7 (0.69%)

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Alphabet Class A

$1,031.22

4.99 (0.49%)

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    Nov

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    Mar

MRKR

Marker Therapeutics

$6.26

-0.42 (-6.29%)

05:28
11/21/18
11/21
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05:28
Initiation
Marker Therapeutics initiated  »

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  • 27

    Nov

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    Dec

BZUN

Baozun

$30.07

-0.98 (-3.16%)

05:26
11/21/18
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Earnings
Breaking Earnings news story on Baozun »

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  • 21

    Nov

BZUN

Baozun

$30.07

-0.98 (-3.16%)

05:25
11/21/18
11/21
05:25
11/21/18
05:25
Earnings
Baozun reports Q3 EPS 13c, consensus 11c »

Reports Q3 revenue…

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  • 21

    Nov

BZUN

Baozun

$30.07

-0.98 (-3.16%)

, LITB

LightInTheBox

$1.10

(0.00%)

05:24
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Hot Stocks
Baozun appoints Robin Lu as CFO »

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BZUN

Baozun

$30.07

-0.98 (-3.16%)

LITB

LightInTheBox

$1.10

(0.00%)

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  • 21

    Nov

ZLAB

Zai Lab

$17.00

-0.2 (-1.16%)

05:23
11/21/18
11/21
05:23
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05:23
Initiation
Zai Lab initiated  »

Zai Lab initiated with a…

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NAVI

Navient

$10.74

-1.255 (-10.47%)

05:21
11/21/18
11/21
05:21
11/21/18
05:21
Hot Stocks
Navient CEO sends letter to holders in response to AP article »

Navient released the…

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  • 29

    Nov

TEDU

Tarena

$7.26

-0.995 (-12.06%)

05:21
11/21/18
11/21
05:21
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05:21
Downgrade
Tarena rating change  »

Tarena downgraded to…

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ABIL

Ability

$2.83

-0.15 (-5.03%)

05:17
11/21/18
11/21
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05:17
Hot Stocks
Ability to acquire supplier of principal cellular interception system »

Ability announced that,…

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INVVY

Indivior

$0.00

(0.00%)

05:16
11/21/18
11/21
05:16
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05:16
Downgrade
Indivior rating change  »

Indivior downgraded to…

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PFODF

Premier Foods

$0.00

(0.00%)

05:15
11/21/18
11/21
05:15
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05:15
Upgrade
Premier Foods rating change  »

Premier Foods upgraded to…

03/08/13
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SE

Sea Limited

$12.18

-0.52 (-4.09%)

05:12
11/21/18
11/21
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11/21/18
05:12
Recommendations
Sea Limited analyst commentary  »

Sea Limited posted…

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ADSK

Autodesk

$122.99

-2.76 (-2.19%)

05:09
11/21/18
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05:09
Recommendations
Autodesk analyst commentary  »

Autodesk price target…

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  • 26

    Nov

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    Dec

ANAB

AnaptysBio

$68.73

0.8 (1.18%)

05:03
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Initiation
AnaptysBio initiated  »

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DXCM

DexCom

$119.89

-1.34 (-1.11%)

, GOOG

Alphabet

$1,026.00

7 (0.69%)

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Hot Stocks
DexCom, Alphabet's Verily amend collaboration and license agreement »

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$119.89

-1.34 (-1.11%)

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$1,026.00

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GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

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  • 27

    Nov

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    Nov

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    Dec

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    Mar

ADI

Analog Devices

$89.12

3.57 (4.17%)

04:55
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04:55
Recommendations
Analog Devices analyst commentary  »

Analog Devices price…

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  • 26

    Nov

04:55
11/21/18
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04:55
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04:55
General news
Jobless Claims to be reported at 08:30 »

Week of 11/17 Jobless…

ELEZY

Endesa

$0.00

(0.00%)

04:55
11/21/18
11/21
04:55
11/21/18
04:55
Conference/Events
Endesa to hold a webcast »

Strategic plan update…

03/08/13
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  • 21

    Nov

04:55
11/21/18
11/21
04:55
11/21/18
04:55
General news
Leading Indicators to be reported at 10:00 »

October Leading…

04:55
11/21/18
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04:55
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04:55
General news
Breaking General news story  »

Week of 11/16 MBA…

04:55
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04:55
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04:55
General news
Consumer Sentiment Index to be reported at 10:00 »

Consumer Sentiment Index…

04:55
11/21/18
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04:55
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04:55
General news
Breaking General news story  »

Week of 11/16 EIA…

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