IBM Reports Solid 3Q; Improving Revenue Trajectory; Shares Trading Close to Fair Value
IBM reported a solid third-quarter result and notably improved its revenue trajectory. While it was good to see IBM improve its revenue trajectory, we had expected the result, given management’s prior guidance around the second half of the fiscal year. Still, with a positive reaction in afterhours trade, we think the market is cheered by the possibility of elusive future top-line growth. While we expect IBM to return to modest revenue growth over the midterm, we have pared back our overall growt...International Business Machines provides integrated solutions and products that utilize data, information technology, capability in industries and business processes. The company has five segments: Cloud and Cognitive Software, which provides a range of software offerings; Global Business Services, which provides consulting, systems integration, application management and business process outsourcing services; Global Technology Services, which provides project services, managed and outsourcing services, cloud-delivered services, and technical and IT support services; Systems, which provides technology and service; and Global Financing, which provides client financing, among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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