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S&P 500 ends with slight gains; IBM falls late

2014-01-23 13:03:54| Chemicals - Topix.net

U.S. stocks mostly rose on Tuesday, with the S&P 500 snapping a two-session decline as the materials sector rallied, though the Dow fell on disappointing earnings by three of its components.

Tags: late falls ends ibm

 

Lenovo in $2.3bn IBM server deal

2014-01-23 12:26:11| BBC News | Business | UK Edition

China's Lenovo - the world's biggest PC maker - buys IBM's low-end server business for $2.3bn in a long-expected deal.

Tags: server deal ibm lenovo

 
 

Lenovo to buy IBM x86 server business for USD 2.3 bln

2014-01-23 10:31:00| Telecompaper Headlines

(Telecompaper) Lenovo confirmed it has entered into a definitive agreement to acquire IBM's x86 server business for USD 2.3 billion. This includes System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. The purchase price includes around USD 2 billion in cash and the remainder in Lenovo stock. IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, and PureApplication and PureData appliances. Lenovo already acquired IBM's PC business in 2005, helping it become the world's largest PC maker last year. With the PC market slowing, the acquisition of the server business will provide a new growth area for Lenovo. IBM plans to focus more on software and services and will continue to develop Windows and Linux software portfolio for the x86 platform. Following the closing of the transaction, IBM will continue to provide maintenance on Lenovo's behalf for an extended period of time. Approximately 7,500 IBM employees around the world will be offered employment by Lenovo as part of the deal. The takeover remains subject to regulatory approval and other closing conditions.

Tags: business buy server usd

 

S&P 500 ekes out another small gain; IBM slumps

2014-01-23 00:20:04| Electronics - Topix.net

The Standard & Poor's 500 index eked out its second small gain of the week Wednesday as investors pored over the latest earnings reports.

Tags: small gain ibm slumps

 

U.S. Stocks Trade Little Changed as Coach, IBM Slide on Earnings

2014-01-22 23:58:43| Railroads - Topix.net

U.S. stocks were little changed as investors assessed earnings from companies including Coach Inc., International Business Machines Corp. and Norfolk Southern Corp. Coach, the largest U.S. luxury handbag maker, slumped 6.9 percent after sales missed analysts' estimates.

Tags: on trade changed ibm

 

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