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  • Friday, September 20, 2024

Wells Fargo Securities: IBM to Release 2018 Q4 Results, Initial 2019 Guidance


A Wells Fargo Securities report says IBM (NYSE: IBM) is scheduled to release on Tuesday its fourth-quarter results for 2018 and initial guidance for 2019.

According to the report released Friday, shareholders of Red Hat (NYSE: RHT) approved a deal for IBM to acquire the Raleigh, N.C.-based software company for approximately $34B or $190 in cash per share.

IBM announced in October 2018 that it agreed to buy Red Hat in a push to create a global hybrid cloud provider.

Wells Fargo said it will look into the course of IBM’s strategic growth in the cognitive segment after the technology firm agreed to sell some of its software assets to HCL Technologies.

“For services, we believe the expectation is for further growth and favorable margin trajectory in both the [global business solutions] and [technology solutions and cloud platform] segments,” the financial services firm added.

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