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IBM - Switching IndustriesFall of Ibm - that
Reuters - IBM Corp missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty. The year-old firm is preparing to split itself into two public companies and the namesake firm will focus on the so-called hybrid cloud, where companies use a combination of their own datacenters and leased resources to manage and process data. That was not enough to convince investors, however, as the company's shares dropped 6. Sales from cloud and cognitive, which houses IBM's software offerings and its biggest unit, declined 4. Still, Chief Financial Officer James Kavanaugh told Reuters an accelerated move to cloud by businesses, a sales rebound in the global business services unit and a weaker dollar make the company confident of returning to revenue growth this year. Total revenue fell 6. Eli Lilly and Co said on Tuesday Chief Financial Officer Josh Smiley had resigned after allegations about a personal relationship sparked an investigation that found "inappropriate personal communication" with some company employees. Fall of Ibm.Browse menu
The maker of robotic surgical systems faces continued pressure on procedure growth because of the virus pandemic. The cruise line extended its suspension of U. The regional bank Fall of Ibm company's fourth-quarter profit and revenue fell short of analysts' forecasts. Most Popular. PPG Industries Inc. The paint and coatings maker warned investors about uncertainty over a recovery in demand.
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The financial services firm blew away Wall Street's fourth-quarter financial forecasts. Verra Mobility Corp. The transportation technology company is buying Redflex Holdings. Carnival Corp. Huntington Bancshares Inc. International Business Machines Corp.
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