Ongoing Adjustments to IBM’s Portfolio with More Revitalization Efforts in 1Q; Shares Fairly Valued
IBM’s first-quarter results were mostly in line with our expectations, although revenue was slightly impacted by some execution issues in the storage hardware business given the fierce competitive nature of the industry. IBM’s storage hardware revenue slid 15% year over year. Meanwhile, IBM announced further repositioning efforts of its portfolio, primarily in SG&A. In what has become a trend, IBM’s ongoing portfolio readjustment toward higher-value enterprise IT is now necessary for the fir...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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