Posts tagged “IBM”
In a conference call to discuss IBM's earnings report that missed Wall Street expectations and triggered an 8 percent drop in Big Blue shares as well as the company's decision to pay Globalfoundries $1.5 billion to take over its chip unit, chairman and CEO Ginny Rometty says she remains committed to the "reinvention" of the company. Read what she had to say in her own words.
IBM will make payments to privately held chipmaker Globalfoundries over three years totalling $1.5 billion, but it will take a $4.7 billion charge in the third quarter. Big Blue also released its earnings report, which fell short of Wall Street expectations. Shares quickly fell 8 percent.
IBM is shedding workers faster than trees drop leaves. More than 7,000 in the x86 server sale to Lenovo. Thousands more in giving away - yes, literally giving away with a $1.5 billion cash bonus - by dumping its chip business. And coming next? A $600 million resource action. In other words, more layoffs. One thing is clear: As IBM reported a drop in revenue for the 10th consecutive quarter its management is doubling down on more, rapid changes.
Analysis: The sales of lower-value and less-profitable product lines such as its semiconductors and X86 servers are a key step in IBM's transformation to a provider of higher-value hardware, software and services. Furthermore, IBM has identified the strategic growth areas of cloud, big data and analytics, security, social and mobility to better serve customers' evolving IT needs. These technologies are the focus of IBM's investment strategy and continue to be the strongest performing pieces of the company's solutions portfolio, writes Stephen Belanger of Technology Business Research.
Tesla's autopilot; RTI's nuke disaster response plan; Apple is top brand; right to be forgotten in Japan; Symantec to split; Amazon's first store; Ichan wants Apple buyback
In today's Bulldog wrapup of technology news: Tesla's new model features auto-pilot, all-wheel drive; RTI unveils a nuclear disaster response program; Apple remains world's top brand; Google faces "right to be forgotten" in Japan; Symantec is going to split; Amazon to open brick-and-mortar store; and Carl Ichan wants another Apple share buyback.
IBM is intrdoucing its Watson-based Platform-as-a-Service Bluemix in the Triangle with a networking event Thursday night at Big Blue's RTP campus. They are mixing it, if you will, with a regular "Girls Night Out" networking event. put on by the Girls Develop IT meetup group.
Trending in the Triangle: Get the pulse of technology in the Triangle with the best in local technology, venture, biotech, and life science news on Wednesday, Oct. 8, 2014 as curated by @WRALTechWire.
Lenovo supplier sues labor group; DirecTV keeps NFL; IBM's NYC tech hub; farewell, Lotus; apps spying in Hong Kong; no-warrant GPS data OK'd
In today's technology wrapup: A Lenovo supplier in China sues China Labor Watch; DirecTV keeps NFL deal, which AT&T required for merger; IBM's BlueMix hub in NYC; Lotus 1-2-3 support is gone; apps spying in Hong Kong, company says; a court OKs data from GPS seized without a warrant.
Gerry Smith, who runs the Americas Group for Lenovo and will oversee the merged IBM-Lenovo System X business unit when the deal closes Wednesday, threw down a proverbial gauntlet to competitors on Monday. "The FUD spread by our competitors is over," he declares. Lenovo defied critics in buying IBM's PC business in 2005 and will do so again in servers, he promises.
Lenovo Chairman and CEO Yang Yuanqing spells out an aggressive strategy to make the company No. 1 in the global server market once the $2.1 billion deal for IBM's x86 business closes on Wednesday. Yang aims for $5 billion in revenue and profitability in one year for the newly branded "Systems X" business.
Lenovo Chairman and CEO Yang Yuanqing says the $2.1 billion acquisition of IBM's x86 server business will close on Wednesday. The deal means some 2,000 IBMers in the Triangle will become Lenovo employees. Lenovo reiterated its pledge to hire all Big Blue workers in the x86 business but also said a search for "efficiencies" would begin once the merger has closed and the Lenovo-IBM server businesses are combined.
With Lenovo and IBM wrapping up their $2.1 billion x86 server deal, the first Big Blue workers will head to a Lenovo operated facility on Wednesday morning. While some workers and facilities will transition in coming months, a large number switch to Lenovo's two buildings in RTP and take orientation in coming days, says Lenovo's top North America exec Jay Parker.
Over the past several years, IBM has dramatically cut the size of its work force in North Carolina - some 60 percent - through sales of business units and job cuts. But its RTP campus remains the company's largest physically and IBM still employs an estimated 7,500 people in the state. Big Blue also remains committed to its RTP operation as shown by Monday's announcement opening a new data "resiliency" center. In an exclusive Q&A, a senior IBM executive explains the RTP location decision and reiterates Big Blue's support for the site.
With reports circulating that Lenovo and IBM could close that $2.3 billion x86 server deal as soon as next month, executives of the two companies on Thursday outlined post-closing strategy at an industry forum.
IBM is opening a huge data center at its RTP campus. According to an announcement made by Big Blue just after midnight, the so-called "cloud resiliency center" will cover some 72,000 square feet.