The Armonk, New York-based International Business Machines Corp (NYSE:IBM) purchased one more storage-technology corporation on Thursday, continuing its 5-year shopping spree in that field, and encouraged to make more purchases to fill its product line gaps.
International Business Machines reported that IBM would buy Texas Memory Systems Inc, a closely held designer of flash memory but the company did not disclosed the terms of the agreement.
Vice president for storage systems Bob Cancilla reported that the goal was to offer a new complete storage system than competitors by assembling the gears through purchases of smaller corporations.
JPMorgan Chase & Co (NYSE:JPM) analyst in San Francisco Mark Moskowitz stated in a note to investors that IBM tends to assemble its technology by acquiring corporations that lack a strong sales force or all the parts a client would require.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. SAP AG (ADR) (NYSE:SAP) rose +0.66% to settle at $64.38, Oracle Corporation (NASDAQ:ORCL) moved up +1.52% to end at $32.03 while Intel Corporation (NASDAQ:INTC) jumped +1.22% to finish on Thursday at 26.59.
International Business Machines Corp (NYSE:IBM) last session volume of 744,095 shares was surprisingly higher than its average volume of 3.85 million shares. The stock after opening at $198.77 hit high price of $201.32 and then closed at $200.84 by scoring +1.23%.
The liquidity measure in recent quarter results of the company was recorded 1.22 as current ratio and on the other side the debt to equity ratio was 1.58 and long-term debt to equity ratio also remained 1.21. The Company had total cash at hand $11.23 billion and a book value per share as $17.91 in the most recent quarter.
The stock price volatility was 1.07% for a week and 1.27% for a month as well as price volatility’s Average True Range for 14 days was 2.83 and its beta remained 0.67.
IBM generated revenue of 106.10 billion in the following twelve months and earned $16.27 billion. The Company showed a positive 15.34% in the net profit margin and as well as in its operating margin which remained 20.07%. Company’s annual sales growth for the past five year was 3.18%.
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