Forbes investment strategist Vahan Janjigian suggested by small tech stocks and IBM. Lets see how his pick goes!
IBM reported a 12% rise in their Q4 profit, and issued a 2009 profit projection that bested Wall Street's expectations.
The Texas government orders IBM to resolve key service issues regarding a state data center in the next month or it will terminate the $863 million contract.[1]
IBM reported revenues of $25.3B and a net income of $2.8B. Its gross margin rose to 43.3% compared to 41.3% a year ago. IBM's 22% increase in net income was most attributable to an 8% growth in its software division.
IBM's symphony software, the company's equivalent to Microsoft Office, is available for free download off the IBM website. Now, however, IBM will offer to sell software support for $25,000/yr to companies. Google does a similar thing with its software.
IBM revenue increased 11% y.o.y. to $24.5 billion. Earnings also increased 36% y.o.y. Revenues for the Global Technology Services and Global Business Services each grew 17% y.o.y., while Global Financing only grew 3%.
IBM announced a $15 billion share repurchase that they expect to raise their 2008 earnings outlook as much as $.05 per share.
IBM announces a newly signed $45 million contract with India's government to update the IT infrastructure of India's income tax system.
Although IBM beat concensus growth was unimpressive.
IBM and Lehman Brothers announce joint investment in China of $180 million in order to help stir the growth of financial and business transformation of Chinese enterprises through strategy and technology.
IBM acquires Internet Security Systems, a company that develops software and technology that enables companies and governments to fight off Internet-based security threats.
