IBM set to report earnings after the bell

Morgan Stanley cut its rating on IBM stock last week.

IBM President and CEO Virginia Rometty delivers a speech to participants during the 4th edition of the Viva Technology show at Parc des Expositions Porte de Versailles in Paris on May 16, 2019.will release its fourth-quarter earnings statement after market close on Tuesday.Excluding certain items, $4.69 per share as expected by analysts, according to Refinitiv.

In the fourth quarter IBM announced a "financial services-ready public cloud" offering that is expected to use the company's existing cloud infrastructure, and it appointed Thomas Buberl, CEO of insurance company AXA, to its board. Morgan Stanley analysts led by Katy Huberty cut their rating on IBM to equal-weight from overweight on Friday. "Even assuming modest Red Hat synergies, we now see long-term revenue growth at IBM as less likely without a more meaningful shift in the portfolio," the analysts wrote. "We see IT budget growth deteriorating in 2020 with risk of further cuts to core IBM profit pools including on-premise infrastructure, consulting, and outsourcing.

With respect to guidance, for 2020 analysts expect IBM to generate $13.29 in earnings per share, excluding certain items.This is breaking news. Please check back for updates.

I have a way to make earnings. Yet nobody wants to listen to me. GodBless CNBCStockMarketNews interested in my stock? I have an excellent pitch just ask my lawyer👼🏻

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How companies like Google and IBM plan to make money from quantum computingHere's how quantum computing works, and how it could change everything from Wall Street to Big Pharma and beyond. Make smart decisions. Why spend 100k in education if it’s only gonna make you 35k a yr? Great Video 👍🏾
Source: CNBC - 🏆 12. / 72 Read more »

Here's what every major Wall Street analyst is predicting for Netflix earnings after the bellNetflix reports its fourth quarter earnings report after the bell on Tuesday. FOMO permabull charlatans iron condors ftw.
Source: CNBC - 🏆 12. / 72 Read more »

Netflix Q4 2019 earnings results: subscriber growth, revenue, analysis - Business InsiderNetflix reports on Thursday its fourth-quarter earnings, and analysts want to see how the company held up against Disney Plus.
Source: BusinessInsider - 🏆 729. / 51 Read more »

How companies like Google and IBM plan to make money from quantum computingHere's how quantum computing works, and how it could change everything from Wall Street to Big Pharma and beyond. Make smart decisions. Why spend 100k in education if it’s only gonna make you 35k a yr? Great Video 👍🏾
Source: CNBC - 🏆 12. / 72 Read more »

Netflix Q4 2019: Wall Street split, optimistic on subscriber growth - Business InsiderNetflix posts earnings for its fourth quarter on Tuesday. Some Wall Street analysts are expecting a strong end to the streaming giant's rocky year. Can anyone give me advice on how to stop being so jealous when my gf talks to my friends like I get too jealous and she barely speaks to boys
Source: BusinessInsider - 🏆 729. / 51 Read more »