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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

WES

Western Gas Partners

$49.52

0.38 (0.77%)

, WGP

Western Gas Equity

$32.38

0.2 (0.62%)

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Recommendations
Western Gas Partners, Western Gas Equity analyst commentary at MUFG »

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WES

Western Gas Partners

$49.52

0.38 (0.77%)

WGP

Western Gas Equity

$32.38

0.2 (0.62%)

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PXD

Pioneer Natural

$145.33

2.27 (1.59%)

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Pioneer Natural analyst commentary at MUFG »

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ZTS

Zoetis

$95.38

2.16 (2.32%)

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JNJ

Johnson & Johnson

$136.40

2.13 (1.59%)

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Johnson & Johnson CEO: 'We ended 2018 with great results' »

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WIN

Windstream

$3.37

0.2 (6.31%)

, UNIT

Uniti Group

$20.00

0.53 (2.72%)

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Periodicals
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UNIT

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0.53 (2.72%)

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BHVN

Biohaven Pharmaceutical

$45.32

1.36 (3.09%)

18:14
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Biohaven treatment of multiple system atrophy granted FDA orphan designation »

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AMGN

Amgen

$188.31

1.6 (0.86%)

18:11
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Amgen treatment of Acute Myeloid Leukemia granted FDA orphan designation »

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CE

Celanese

$100.19

1.19 (1.20%)

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Celanese announces Acetyl Intermediates price increases in China »

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WIN

Windstream

$3.37

0.2 (6.31%)

, UNIT

Uniti Group

$20.00

0.53 (2.72%)

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Periodicals
Court says Windstream defaulted on bonds in 2015, Bloomberg says »

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WIN

Windstream

$3.37

0.2 (6.31%)

UNIT

Uniti Group

$20.00

0.53 (2.72%)

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  • 25

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GLD

SPDR Gold Shares

$124.81

0.77 (0.62%)

17:41
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SPDR Gold Shares holdings fall to 793.03MT from 796.85MT »

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MDLZ

Mondelez

$48.17

0.84 (1.77%)

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Mondelez to transfer listing of debt securities to Nasdaq »

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FN

Fabrinet

$55.23

0.67 (1.23%)

17:25
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Fabrinet CFO sells 20K shares of common stock »

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UBER

Uber

$0.00

(0.00%)

17:24
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Periodicals
Uber sues NYC over move to cap number of ride-hailing drivers, Bloomberg says »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$277.40

2.93 (1.07%)

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House Democrats to probe POTUS emergency declaration, Bloomberg says »

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S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$277.40

2.93 (1.07%)

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ORCL

Oracle

$51.71

0.25 (0.49%)

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Oracle authorizes additional $12B stock buyback under existing program »

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SBLK

Star Bulk Carriers

$8.21

0.13 (1.61%)

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Star Bulk Carriers acquires 95,605 of its common shares »

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HOLI

Hollysys

$20.56

0.26 (1.28%)

17:02
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Earnings
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  • 17

    Feb

AKS

AK Steel

$2.98

-0.015 (-0.50%)

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Syndicate
Breaking Syndicate news story on AK Steel »

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16:55
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General news
Treasury Market Summary: i »

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LPTX

Leap Therapeutics

$1.65

(0.00%)

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MPB

Mid Penn Bancorp

$23.25

-0.24 (-1.02%)

16:52
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Mid Penn Bancorp seeks approval to relocate Allentown Boulevard branch »

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REGN

Regeneron

$423.79

8.54 (2.06%)

, AMGN

Amgen

$188.31

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REGN

Regeneron

$423.79

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AMGN

Amgen

$188.31

1.6 (0.86%)

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UPS

UPS

$110.89

-0.91 (-0.81%)

16:44
02/15/19
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UPS CFO sells 9.1K shares of common stock »

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  • 03

    Mar

DAL

Delta Air Lines

$51.09

0.58 (1.15%)

16:43
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Breaking Syndicate news story on Delta Air Lines »

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UPS

UPS

$110.89

-0.91 (-0.81%)

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UPS raises quarterly dividend to 96c per share from 91c »

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  • 03

    Mar

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