Posts tagged “IBM”
The Louisiana Sheriffs' Pension and Relief Fund, in a complaint filed Thursday in Manhattan federal court, accuses IBM of defrauding investors by concealing the sales decline after Edward Snowden leaked information that the company was cooperating with the NSA. IBM calls the suit "ludicrous and irresponsible."
Many businesses remain wary about spending money on physical assets, such as computer hardware, machinery or warehouses. Instead, they're using software and cloud-computing services to increase efficiency and reach more customers over the Internet. While IBM ultimately expects to benefit from that shift to the cloud, the hardware slump has contributed to six straight quarters of declining revenue.
Online shoppers - especially at Amazon, eBay and through Google - drove traffic to record levels and ended up making nearly $2 billion in purchases, according to Morrisville-based ChannelAdvisor and Internet research firm ComScore.
Retailers catering to smartphone and tablet users are especially benefiting, with mobile traffic accounting for 30 percent of the total, an increase of 58 percent from last year, IBM reports. Meanwhile, Morrisville-based ChannelAdvisor reports big increases for Google, Amazon and eBay.
Fluid Inc., an Internet startup that helps shoppers create custom Brooks Brothers suits and Reebok sneakers, will introduce its first app powered by IBM's Watson system by mid-2014, pushing the technology into the consumer market for the first time.
Disclosures of spying abroad may cost U.S. companies as much as $35 billion in lost revenue through 2016 because of doubts about the security of information on their systems, according to the Information Technology & Innovation Foundation, a policy research group in Washington whose board includes representatives of companies such as IBM and Intel.
Statewide, the number of IBM employees has dropped to under 10,000 from 13,000 in 2009, according to internal IBM data. Alliance at IBM, which is seeking to represent Big Blue workers, cites leaked information from IBM directories as the source for its information. IBM won't discuss the numbers but says RTP and North Carolina remain workers "remain an integral part of nearly every facet of business."
After Bridgestone filed a $600 million lawsuit against IBM, alleging a bungled information technology transofmration project, Big Blue fired back. In a blistering, extended response to the suit, IBM says "Bridgestown's own errors" - including six CIOs over two years - "made this a troubled project."
Analysis: Centered on Fiberlink's MaaS360 solutions suite, the acquisition by IBM helps fill gaps and advance key corporate initiatives including cloud, mobility and security.
IBM's Watson technology, famous for outsmarting humans on the game show "Jeopardy!," will be offered as a cloud-based tool to application developers, letting them tap a resource capable of giving everything from shopping tips to medical advice.
In its third major acquisition over the past two months that target mobile technology, IBM says it is buying Pennsylvania-based Fiberlink Communications. The firm focuses on "bring your own device" technology.
Will IBM suffer fallout in the growing "cloud" computing marketplace after a judge delivers scathing remarks in a ruling that threw out Big Blue's appeal of a $600 million contract awarded to Amazon? Other companies and agencies putting "cloud" work out for bid are likely to examine this case closely. The ruling wasn't published until Friday.
While half of respondents to Morrison & Foerster's survey expect that M&A activity will increase in the next six months, 415 Research's analysis finds a mixed picture for M&A activity. Read more about the findings.
Mark Loughridge, the longest-serving CFO in IBM's 102-year history, managed the company's finances as it shifted to high- margin products -- an effort to steadily increase profits at the cost of sales growth.
Chief Executive Officer Ginni Rometty is rewarding shareholders who held on as the stock fell 7.4 percent this year through yesterday, compared with the 24 percent gain in the Standard & Poor's 500 Index. With sales dropping, the company is counting on the buyback to help reach its goal of $20 in adjusted earnings a share by 2015, up from $15.25 last year.
The man who championed the design and production of personal computers at IBM and helped make PCs available to all died recently at the age of 72. His legacy is one to remember.
Analysis: The recent acquisition of The Now Factory positions IBM to capitalize on a growing opportunity to provide actionable insight to communications customers.
ARM's chip technology is used in mobile phones and is increasingly being deployed in more demanding devices such as servers and networking equipment. IBM says the ARM technology will be used in new microprocessors designed for "custom-chip clients, leading companies that build network routers, switches and the cellular base stations that enable pervasive wired and wireless communications across the globe."
"They will have a record per-share earnings this year," Warren Buffett says on the "Charlie Rose" show. "That can be disappointing if you expected more. But it is not a bad record, believe me."