Full-year guidance doesn't account for impact from Red Hat.Jason Alden | Bloomberg | Getty Images
The GTS business is "declining ~3% as the company repositions this portfolio for higher profitability and growth," Stifel analysts led by David Grossman wrote in a note on July 9. "Declines are likely to remain at these levels through most of this year as the company exits lower margin capital intensive business and culls low growth/margin relationships from the portfolio."
This is really rude and disrespectful, but I couldn't help myself. Does anybody else see a gremlin here? The resemblance is uncanny. Sorry for the disrespect.
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