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C2010-555 IBM Maximo Asset Management v7.6 Functional Analyst

Exam ID : C2010-555
Exam Title : IBM Maximo Asset Management v7.6 Functional Analyst
Number of questions: 72
Number of questions to pass: 46
Time allowed: 100 mins
Status: Live

An IBM Certified Deployment Professional - Maximo Asset Management v7.6 Functional Analyst is a technical professional responsible for supporting, implementing and maintaining an IBM Maximo Asset Management v7.6 solution, the asset life cycle including inventory, contracts, purchasing, resources, work management, preventive maintenance and security. This individual will be expected to perform these tasks with limited assistance from peers, product documentation, and support resources.

Asset Management 18%
- Describe managing and creating failure codes
- Describe managing and creating locations and location hierarchies
- Describe set up and use of meters
- Describe the use of warranty contracts for assets
- Describe moving, modifying and swapping assets
- Describe using and applying Asset Templates
- Identify asset relationships
- Describe creating asset subassemblies and spare parts
- Describe the difference between rotating and non-rotating assets

Predictive and Preventive Maintenance 10%
- Explain the use of Master PMs
- Describe how to configure the various types of PMs
- Identify using Routes
- Describe how to generate and modify a PM forecast
- Describe how Condition Monitoring can be configured to generate work orders
- Describe time based and meter based PMs
- Apply job plan sequencing to PMs

Work Management and Planning 21%
- Describe work orders, child work orders and tasks
- Explain how to assign a work order
- Describe the plans and actuals on a work order
- Describe the work order status change life cycle
- Describe the creation of Job Plans
- Describe how to report labor hours

Procurement Management 10%
- Describe procurement related contracts
- Describe the difference between a company and a company master
- Describe the purchasing life cycle (PR, PO, RFQ, DR, Invoice)
- Describe the receiving processes
- Perform the return of a rotating asset or direct issue item

Inventory Management 15%
- Explain inventory and inventory balances
- Define costing methods
- Describe the use of item assembly structures
- Describe the different types of items
- Describe using the Inventory Usage application
- Describe hard and soft inventory reservations
- Define a service item
- Describe tool records and stocked tools
- Describe adding new units of measure and conversions
- Define the item statuses
- Apply the reorder process

Workflow and Escalations 8%
- Describe the use of workflow processes
- Construct workflow processes
- Describe the use of escalations

Analytics 8%
- Construct adhoc reports
- Identify where KPIs can be viewed
- Describe KPI Templates
- Explain the different reporting options
- Demonstrate knowledge of running and using reports

Administration 10%
- Describe the creation of organization and sites
- Describe managing resources
- Describe managing the security configuration
- Describe configuration of the business financials
- Describe the creation of Calendars and Work Periods
- Describe managing Classifications and attributes
- Describe edit mode and how to apply it

IBM Maximo Asset Management v7.6 Functional Analyst
IBM Management reality
Killexams : IBM Management reality - BingNews https://killexams.com/pass4sure/exam-detail/C2010-555 Search results Killexams : IBM Management reality - BingNews https://killexams.com/pass4sure/exam-detail/C2010-555 https://killexams.com/exam_list/IBM Killexams : IBM: exact Earnings Are Not A Sign Of Fundamental Change
Entrance of modern office tower at City of Zürich.

Michael Derrer Fuchs

In the past few months International Business Machines (NYSE:IBM) has turned into one of the best performing tech names. Since I first covered the company in January of 2021 IBM returned 17%, compared to merely 8% for the broader equity market.

IBM total return Chart
Data by YCharts

During this timeframe the spin-off of Kyndryl (KD) was completed and now that the underperforming assets have been unloaded, expectations around the 'New IBM' are running high. Unfortunately, however, the strong share price performance since November of last year has little to do with IBM's fundamentals.

As we see in the graph below, the iShares Edge MSCI USA Momentum Factor ETF (MTUM) peaked also in November of last year and since then the gap with the iShares Edge MSCI USA Value Factor ETF (VLUE) has been expanding.

MTUM vs VLUE price
Data by YCharts

As expectations of monetary tightening begun to surface and inflationary pressures intensified, high duration and momentum stocks begun to underperform the lower duration value companies. I talked about this dynamic in my exact analysis called 'The Cloud Space In Numbers: What Matters The Most', where I showed why the high-growth names were at risk. More specifically, I distinguished between the companies in the bottom left-hand corner and those in the upper right-hand corner in the graph below.

Revenue Growth (fwd) vs. P/E Non-GAAP (fwd) - November 2021

prepared by the author, using data from Seeking Alpha

As we see in the graph below, the high flyers, such as Workday (WDAY), Salesforce (CRM) and Adobe (ADBE), have become the worst performers, while companies like IBM and Oracle (ORCL) that were usually associated with low expected growth and low valuation multiples became the new stars.

IBM vs peers price
Data by YCharts

Although this was good news for value investors as a whole and is a trend that could easily continue, we should distinguish between strong business performance and market-wide forces. Having said that, IBM shareholders should not simply assume that the strong share price performance is a sign of strong execution. Needless to say, the Kyndryl disastrous performance of losing 75% of its value in a matter of months also lies on the shoulders of current management of IBM.

Kyndryl market cap
Data by YCharts

A Closer Look At IBM's exact Earnings

IBM's recently reported quarterly numbers once again disappointed and the management seems to have largely attributed the U.S. dollar movement to the slightly lower guidance.

IBM 2022 Outlook

IBM Earnings Release

Alongside the guidance gross margins also fell across the board, with the exception of the Financing division, which is relatively small to the other business units.

IBM Q2 2022 margins

IBM Q2 2022 Earnings Release

Rising labour and component costs were also to blame during the quarter and the management is addressing these through pricing actions which should take some time.

Although this is likely true, IBM is also reducing spend on research and development and selling, general and administrative functions. Such actions are usually taken as a precaution during downturns, however, consistent lower spend in those areas could often have grave consequences.

IBM fixed costs

prepared by the author, using data from annual and quarterly reports

Last but not least, the reported EPS numbers from continuing operations should also be adjusted as I have outlined before.

IBM Q2 2022 EPS

IBM Q2 2022 Earnings Release

I usually exclude the royalty income and all income/expenses grouped in the 'other' category. These expenses/income usually have little to do with IBM's ongoing business and as such I deem them to be irrelevant for long-term shareholders.

IBM Intellectual Property Income

IBM Annual Report 2021

IBM other income

IBM Annual Report 2021

On an adjusted basis, EPS increased from $1.08 in Q2 2021 to $1.33 in Q2 2022, which although is a notable increase remains low. Just as a back of the envelope calculation, if we annualize the last quarterly result, we end up with a total EPS number of $5.3 or a forward P/E ratio of almost 25x. Given all the difficulties facing IBM and its growth profile, this still appears as too high.

Has Anything Changed Following The exact Earnings?

As expected, IBM continued on its strategy to fuel its growth through a frenzy of acquisitions and divestitures. Following the Kyndryl spin-off, the company completed four deals in a matter of just few months.

IBM acquire Envizi

Seeking Alpha

IBM acquire Sentaca

Seeking Alpha

IBM acquire Randori

Seeking Alpha

IBM acquire Databand.ai

Seeking Alpha

As I have said before, all that does not bode well for the prospects of IBM's legacy businesses. Moreover, the management does not seem to be focused on organic growth numbers in their quarterly reviews which is even more worrisome.

Now that the underperforming assets have been off-loaded, IBM's dividend payments are still too high relative to its adjusted income.

IBM net income versus dividend

prepared by the author, using data from annual and quarterly reports

* adjusted for Intellectual property and custom development income, Other (income) and expense and Income/(loss) from discontinued operations, net of tax

As previously noted, this puts the company between a rock and a hard place. However, reducing or discontinuing the dividend could potentially result in an exodus of long-term shareholders.

We should also mention that IBM has been barely paying any taxes over exact years due to various tax credits (see below). This, however, is gradually changing and will likely provide yet another headwind on EPS numbers in the future.

IBM tax expense

prepared by the author, using data from annual and quarterly reports

Even though the narrative around IBM has been largely focused on its business turning around, the company's free cash flow per share continues to decline.

IBM free cash flow

prepared by the author, using data from annual and quarterly reports

Conclusion

A potential upside based on a successful turnaround story of IBM that is gravitating around the hybrid cloud is a major reason for many current and potential shareholders of IBM to hope for a light at the end of the tunnel. However, little seems to have changed at IBM following the spin-off of Kyndryl and a declining business also creates a significant moral hazard problem for management where more risk taking is incentivized. All that combined with the fact that IBM is doing M&A deals almost on a monthly basis, creates significant risks for long-term owners of the business.

Mon, 25 Jul 2022 02:53:00 -0500 en text/html https://seekingalpha.com/article/4525527-ibm-recent-earnings-not-sign-fundamental-change
Killexams : 10 Best High-Yield Dividend Champions to Buy in August

In this article, we discuss 10 best high-yield dividend champions to buy in August. You can skip our detailed analysis of dividend stocks, and go directly to read 5 Best High-Yield Dividend Champions to Buy in August

The current market situation and soaring inflation have investors panic about a possible recession. That’s why they are flocking to dividend stocks. In CNBC’s June survey, nearly 42% of the respondents said that they would likely invest in dividend-paying stocks for the rest of the year.

Daniel Peris, a manager at Federated Hermes Strategic Value Dividend Fund, said that in the current environment his fund would focus on companies that pay dividends, maintain track records of dividend growth, and have strong fundamentals for further growth in payouts. He further emphasized that investors show more confidence in stocks that present attractive dividend yields and have good balance sheets. Some of the most popular dividend stocks that fall in this category are The Procter & Gamble Company (NYSE:PG), PepsiCo, Inc. (NASDAQ:PEP), and Johnson & Johnson (NYSE:JNJ). These companies have been providing passive income to shareholders for decades now.

In 2022, the annual dividend rate reached its record high at $550 billion for the first time, according to a report by S&P Dow Jones Indices. Based on this growth, analysts are of the view that dividend payments are expected to jump over 10% at the end of the year, from last year’s $511.2 billion. In this context, we will discuss some high-yield dividend champions to buy in August.

Our Methodology: 

We selected companies that have consistently raised their dividends for more than 25 years. The stocks mentioned below have yields of over 4% and are ranked from the lowest yield to the highest. In addition to this, we also considered hedge fund sentiment around each stock, based on Insider Monkey’s Q1 2022 database of 900+ elite funds.

10. Realty Income Corporation (NYSE:O)

Dividend Yield as of August 1: 4.03%

Realty Income Corporation (NYSE:O) is an American real estate investment trust company that came to prominence because of its monthly dividend policy.

In Q1 2022, Realty Income Corporation (NYSE:O) reported strong free cash flow generation at $513.4 million, up from $352 million in the previous quarter. The company paid $438 million in dividends during the quarter, which takes its payout ratio to 75.6%. Realty Income Corporation (NYSE:O) has a long 28-year history of dividend growth and has paid dividends consecutively for 53 years. It currently offers a monthly dividend of $0.2475 per share, with a yield of 4.03%, as of August 1.

This June, Credit Suisse initiated its coverage of Realty Income Corporation (NYSE:O) with an Outperform rating and a $75 price target.

At the end of Q1 2022, 22 hedge funds in Insider Monkey’s database owned stakes in Realty Income Corporation (NYSE:O), down from 30 in the previous quarter. These stakes are collectively valued at $284.8 million. With over 1.8 million shares, Glendon Capital Management was the company’s leading stakeholder in Q1.

In addition to famous dividend stocks like The Procter & Gamble Company (NYSE:PG), PepsiCo, Inc. (NASDAQ:PEP), and Johnson & Johnson (NYSE:JNJ), Realty Income Corporation (NYSE:O) is also favored by investors in this current market situation.

9. Leggett & Platt, Incorporated (NYSE:LEG)

Dividend Yield as of August 1: 4.52%

Leggett & Platt, Incorporated (NYSE:LEG) is a Missouri-based manufacturing company that specializes in finished products. In Q1 2022, the company reported $39 million in operating cash flow, while its free cash flow came in at $20.3 million. For Fy22, the company expects its operating cash flow to reach $600 million, with $230 million worth of expected dividend payments.

Leggett & Platt, Incorporated (NYSE:LEG) pays a quarterly dividend of $0.44 per share, raising it by 5% in May. The stock’s dividend yield came in at 4.52%, based on the close of August 1. The company maintains a 51-year track record of consistent dividend growth.

As per Insider Monkey’s database, 15 hedge funds held stakes in Leggett & Platt, Incorporated (NYSE:LEG) in Q1, down from 21 in the previous quarter. The combined value of these stakes is roughly $102 million.

8. Telephone and Data Systems, Inc. (NYSE:TDS)

Dividend Yield as of August 1: 4.57%

Telephone and Data Systems, Inc. (NYSE:TDS) is a telecommunication service company that provides wireless products and services. The company is based in Chicago.

In Q1 2022, Telephone and Data Systems, Inc. (NYSE:TDS) generated $381 million in operating cash flow, up from $240 million in the previous quarter. The company pays a quarterly dividend of $0.18 per share. Telephone and Data Systems, Inc. (NYSE:TDS) holds a 48-year track record of consistent dividend growth. As of August 1, the stock’s dividend yield came in at 4.57%.

The number of hedge funds owning stakes in Telephone and Data Systems, Inc. (NYSE:TDS) declined to 12 in Q1 2022 from 20 in the previous quarter, according to Insider Monkey’s data. The stakes owned by hedge funds are valued at nearly $53.4 million. GAMCO Investors owned over 1.7 million TDS shares, becoming the company’s largest stakeholder in Q1.

7. National Retail Properties, Inc. (NYSE:NNN)

Dividend Yield as of August 1: 4.63%

National Retail Properties, Inc. (NYSE:NNN) is a Florida-based real estate investment trust company that invests in properties that are subjected to long-term leases.

On July 15, National Retail Properties, Inc. (NYSE:NNN) declared a quarterly dividend of $0.55 per share, up 3.8% from its previous dividend. This marked the company’s 33rd consecutive year of dividend growth. The company ended Q1 2022 with cash and cash equivalents of $53.7 million and total assets worth over $7.7 billion. Its free cash flow came in at $164.3 million, up from $115.2 million in the previous quarter. The stock’s dividend yield stood at 4.63% on August 1.

Appreciating the company’s relationship-driven acquisition strategy, Credit Suisse initiated its coverage of National Retail Properties, Inc. (NYSE:NNN) in June, with an Outperform rating.

At the end of March 2022, 18 hedge funds tracked by Insider Monkey owned stakes in National Retail Properties, Inc. (NYSE:NNN), worth $92.5 million. In the previous quarter, 16 hedge funds held positions in the company, with stakes valued at $157.7 million. Millennium Management held the largest stake in the company in Q1, worth over $19.4 million.

6. International Business Machines Corporation (NYSE:IBM)

Dividend Yield as of August 1: 5.05%

International Business Machines Corporation (NYSE:IBM) generated over $2.1 billion in free cash flow in Q2 2022. The company’s operating cash flow came in at $1.32 billion. Moreover, it returned $1.5 billion to shareholders in dividends during the quarter.

International Business Machines Corporation (NYSE:IBM) has a solid dividend history, offering dividends to shareholders since 1916 while steadily boosting its payouts for the past 27 years. The company’s quarterly dividend stands at $1.65 per share, with a yield of 5.05%.

Following the company’s exact quarterly earnings, Credit Suisse set a $156 price target on International Business Machines Corporation (NYSE:IBM) in July while maintaining an Outperform rating on the shares.

International Business Machines Corporation (NYSE:IBM) was a part of 43 hedge fund portfolios in Q1 2022, down slightly from 44 a quarter earlier, according to Insider Monkey’s data. The stakes owned by hedge funds were collectively valued at nearly $1.2 billion.

Like The Procter & Gamble Company (NYSE:PG), PepsiCo, Inc. (NASDAQ:PEP), and Johnson & Johnson (NYSE:JNJ), International Business Machines Corporation (NYSE:IBM) is also one of the most reliable dividend candidates in 2022.

St. James Investment Company mentioned International Business Machines Corporation (NYSE:IBM) in its Q4 2021 investor letter. Here is what the firm had to say:

IBM was not the first company to build computers. The distinction belongs to Sperry-Rand’s subsidiary UNIVAC, which introduced the first commercially successful computers in the early 1950s. In this era, IBM did possess the largest research and development department of the business machines industry and quickly caught up, introducing cost-competitive computers a few years after UNIVAC. By the late 1950s, IBM held the dominant market share in computers. IBM also touted a vastly superior sales organization, which used a sales tactic called “paper machines” (the equivalent of today’s “vaporware”). If a competitor’s product was selling well in a market segment that IBM had yet to penetrate, the company would announce a competing product and start taking orders for the “paper machine” long before it was available.

One cannot overstate how powerful IBM was in the computer industry in the 1950s and 1960s. Every competitor rightly panic that if their product worked too well for too long, it was only a matter of time before an army of IBM salesforce representatives mobilized. In their easily recognizable uniforms of starched white shirts, red ties and blue suits, IBM marketers marched on their customers and offered a more expensive, but much more defensible, choice. “Nobody gets fired for buying IBM” was a common phrase. Even competitors acknowledged that the company excelled at sales. As a UNIVAC executive once complained, ‘It doesn’t do much good to build a better mousetrap if the other guy selling mousetraps has five times as many salesmen.’” (Click here to see the full text)

Click to continue studying and see 5 Best High-Yield Dividend Champions to Buy in August

Suggested articles:

Disclosure. None. 10 Best High-Yield Dividend Champions to Buy in August is originally published on Insider Monkey.

Mon, 01 Aug 2022 07:17:00 -0500 en-US text/html https://www.insidermonkey.com/blog/10-best-high-yield-dividend-champions-to-buy-in-august-1055019/
Killexams : IBM shares slide after company trims cash forecast

Arvind Krishna, chief executive officer of International Business Machines Corporation (IBM), during a television interview in San Francisco, California, July 13, 2022.

David Paul Morris | Bloomberg | Getty Images

IBM shares slid as much as 4% in extended trading on Monday after the company trimmed its 2022 cash forecast. It still beat on the top and bottom lines.

Here's how the company did:

  • Earnings: $2.31 per share, adjusted, vs. $2.27 per share as expected by analysts, according to Refinitiv.
  • Revenue: $15.54 billion, vs. $15.18 billion as expected by analysts, according to Refinitiv.

IBM's revenue rose 9% year over year in the quarter, according to a statement. Income from continuing operations increased to $1.47 billion from $810 million in the year-ago quarter. IBM spun off its managed infrastructure services business into publicly traded Kyndryl in November, and sales to Kyndryl boosted IBM's revenue.

"We're planning for about five to six points of revenue growth from the sales to Kyndryl in 2022," Jim Kavanaugh, IBM's finance chief, said on a conference call with analysts.

Management called for $10 billion in free cash flow for all of 2022, down from the range of $10 billion to $10.5 billion that it provided in April. Kavanaugh blamed the strong dollar and the suspension of business in Russia.

"That was a very highly-profitable business for us and that's going to cost a couple hundred million dollars worth of free cash flow and profit by the way in 2022," he said.

Executives reiterated their plan for constant-currency revenue growth at the high end of their mid-single-digit model for the year. Currency negatively impacted reported revenue by over 6% of growth, or $900 million, which was $200 more than spot rates had indicated three months ago, Kavanaugh said.

IBM reported $6.17 billion in software revenue in the second quarter, up 6% but below the $6.3 billion consensus among analysts polled by StreetAccount.

The company's consulting division generated $4.81 billion in revenue, jumping nearly 10% and surpassing the StreetAccount consensus of $4.67 billion.

IBM's infrastructure unit, which includes mainframe computers, contributed $4.24 billion in revenue, up almost 19% and well above the $3.79 billion StreetAccount consensus. On May 31, IBM started selling its latest mainframe, the z16. Each mainframe cycle generally brings revenue growth at the beginning as customers upgrade, followed by a decline. Sales of z Systems products rose 69%, compared with a decline of 19% in the first quarter.

Also in the quarter, IBM announced a plan to acquire cybersecurity startup Randori, and Francisco Partners closed its acquisition IBM's Watson health care data and analytics assets in a deal reportedly worth more than $1 billion.

IBM's gross margin narrowed to 53.4% from 55.2% in the year-ago quarter. The company said the competitive labor market impacted results in its consulting arm, continuing a trend it saw earlier in the year. The company has been working to deal with this by charging higher rates in contracts, and it's expecting a full-year pre-tax margin of 9% to 10%, which would be up over 1 percentage point year over year.

"Consulting, which makes up well over half of IBM's workforce, is most impacted by the inflationary labor market and increasing labor cost as we bring new talent on board and increase capacity," Kavanaugh said. "We are starting to capture the reality of these higher costs in our pricing, but given the time from contract signing to revenue realization, it's taking some time to see it in our margins."

Prior to the after-hours move, IBM shares were up 3% so far this year, while the S&P 500 index tumbled about 20%.

WATCH: We're not seeing a slowdown in the B2B space, says IBM CEO

Mon, 18 Jul 2022 17:20:00 -0500 en text/html https://www.cnbc.com/2022/07/18/ibm-earnings-q2-2022.html
Killexams : Strong Dollar is Crushing These 10 Stocks

In this article, we discuss 10 stocks that the strong dollar is crushing. If you want to see more stocks in this selection, check out Strong Dollar is Crushing These 5 Stocks

One of the biggest challenges presented to corporate America this earnings season was a strong dollar. Many prominent market leaders and multinationals with operations worldwide lamented the fact that foreign currency exchange rates cut into their profits and revenues. Some of the significant victims of a strong dollar included Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG). 

Companies slashed their guidance for the second half of 2022 and beyond as the strengthening dollar wiped billions from US corporate earnings, and the situation does not seem to be improving moving ahead. Jim Paulsen, chief investment strategist at Leuthold Weeden Capital Management, observed in late-June that the biggest market leaders were under scrutiny since they have global operations and a sizeable chunk of their revenues is attributed to international sales. Roughly 35% of US companies have large enough international exposure that a stronger dollar significantly impacts their earnings per share, noted Gina Martin Adams, director of equity strategy at Bloomberg Intelligence. 

The US currency has climbed to its highest level in 20 years, and paired with high inflation and rising rates, the impact on business and consumer demand is starkly visible. Max Kettner, a strategist at HSBC, told Financial Times on July 25 that even if the dollar stopped rising further now, the currency’s strength in the last 12 months will still lead to slashed earnings estimates solely due to foreign exchange headwinds.

Our Methodology

We reviewed the Q2 2022 earnings reports for companies that have sizeable operations overseas and looked for management’s comments regarding foreign exchange headwinds impacting the business. We selected the 10 most prominent companies that were affected by a strong dollar for this list. The companies are ranked according to the hedge fund sentiment as of Q1 2022, which was gauged from Insider Monkey’s database that tracks more than 900 elite hedge funds. 

10. Digital Realty Trust, Inc. (NYSE:DLR)

Number of Hedge Fund Holders: 31

Digital Realty Trust, Inc. (NYSE:DLR) is an American real estate investment trust that invests in data centers, colocation, and interconnection solutions. The REIT rents out its properties to top businesses and service providers. On July 28, Digital Realty Trust, Inc. (NYSE:DLR) reported its Q2 results, announcing an FFO of $1.72, exceeding market estimates by $0.07. The revenue of $1.1 billion gained only 0.90% year over year and missed Street consensus by $50 million. The REIT also slashed its 2022 guidance to factor in the strength of the U.S. dollar. 

The new 2022 guidance for core FFO per share now stands at $6.75 to $6.85, compared to a consensus estimate of $6.82 and the earlier range of $6.80 to $6.90. Digital Realty Trust, Inc. (NYSE:DLR) expects a full-year revenue of $4.65 billion to $4.75 billion, versus a Street consensus of $4.73 billion and the prior guidance of $4.70 billion to $4.80 billion. 

On August 2, Deutsche Bank analyst Matthew Niknam raised the price target on Digital Realty Trust, Inc. (NYSE:DLR) to $150 from $144 and maintained a Buy rating on the shares after the Q2 results.

Among the hedge funds tracked by Insider Monkey, Mark Wolfson and Jamie Alexander’s Jasper Ridge Partners is one of the leading stakeholders of Digital Realty Trust, Inc. (NYSE:DLR) as of Q1 2022, with 652,448 shares worth $92.5 million. Overall, 31 hedge funds were bullish on the stock at the end of Q1 2022, up from 26 funds in the preceding quarter. 

Digital Realty Trust, Inc. (NYSE:DLR) has lately been impacted by a strong dollar, just like Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG). 

9. Aflac Incorporated (NYSE:AFL)

Number of Hedge Fund Holders: 32

Aflac Incorporated (NYSE:AFL) is a Georgia-based provider of supplemental health and life insurance products. The company  operates through two segments – Aflac Japan and Aflac U.S. On August 1, Aflac Incorporated (NYSE:AFL) posted a Q2 non-GAAP EPS of $1.46, beating market estimates by $0.18. The revenue of $5.4 billion dropped about 3% on a year over year basis but exceeded Wall Street consensus by $610 million. The company also declared a $0.40 per share quarterly dividend, which is payable on September 1 to shareholders of record as of August 24. The forward yield was 2.82%. The company reiterated on August 1 that sales in its Japan division were under pressure due to a softer yen. The weaker yen/dollar conversion rate chipped away at the EPS by $0.09 in Q2 2022. 

On July 11, JPMorgan analyst Jimmy Bhullar raised the price target on Aflac Incorporated (NYSE:AFL) to $62 from $61 and maintained a Neutral rating on the shares. The analyst sees the risk/reward in the life insurance sector as “less compelling than previously”. The sector is a primary beneficiary of rising rates and falling COVID cases, but short-term results will be soft, said the analyst, who is panic about downside risk to market estimates. The weak stock market will likely challenge earnings and slash capital ratios for some insurers, and this will limit flexibility, the analyst wrote.

According to Insider Monkey’s data, 32 hedge funds were bullish on Aflac Incorporated (NYSE:AFL) at the end of the first quarter of 2022, compared to 31 funds in the prior quarter. John W. Rogers’ Ariel Investments is the leading stakeholder of the company, with 1.26 million shares worth $81.60 million. 

Here is what Madison Funds has to say about Aflac Incorporated (NYSE:AFL) in its Q2 2021 investor letter:

“This quarter we are highlighting Aflac (AFL) as a relative yield example in the Financial sector. AFL is a leading provider of life and supplemental medical insurance in Japan and the U.S. AFL products offer financial protection against loss of income for policyholders based on qualifying health events. Aflac Japan generates approximately 70% of total revenues, and the company has dominant market share in Japan. In the U.S., AFL provides voluntary insurance for policyholders at businesses with products sold through payroll deduction by its large sales force which sells primarily through face-to-face interactions. We believe AFL’s dominant market position in Japan and its large U.S. sales force create a sustainable competitive advantage for the company.

Our thesis on AFL is that its sales will recover from the impact of the COVID pandemic, and it will return a significant amount of capital to shareholders. Sales were negatively impacted in both Japan and the U.S. but appear to be in early stages of recovering. We believe sales will Boost further as economies open and new products are introduced in Japan. In the U.S., agents will be able to return to face-to-face interactions as people get vaccinated, something that was restricted last year.

In terms of capital returns, AFL committed to returning $8-9 billion between 2020-2022, which is expected to be 75% of operating earnings. The company returns capital via share buybacks and dividend increases. AFL is a Dividend Aristocrat that has increased its dividend 39 years in a row including 10% annually over the last five years; it also recently announced an 18% dividend increase. Other favorable attributes include an A- rated balance sheet by Standard and Poor’s and an attractive valuation with a relative yield near the high end of its historical range.

We believe its valuation is cheap with its forward expected Price/Earnings (P/E) ratio just 9x and a relative P/E of 0.4x versus the S&P 500 despite an industry leading return on equity. At the time of purchase, AFL had a dividend yield of 2.5% and its relative dividend yield vs. the S&P 500 was 1.8x, as shown. Some risks to the thesis include a prolonged economic downturn, loss of market share due to unsuccessful new product rollouts and potential losses in its investment portfolio.”

8. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 43

International Business Machines Corporation (NYSE:IBM) is an American multinational provider of integrated technology solutions worldwide. The company operates through four business segments – Software, Consulting, Infrastructure, and Financing. On July 18, International Business Machines Corporation (NYSE:IBM) stock plunged by 4% as the company reiterated its outlook for the rest of 2022, saying it is going to be affected by the strengthening U.S. dollar and the company concluding its business in Russia. The company’s CFO said that the “significant movement” in the U.S. dollar led to a “6-point headwind to revenue growth”. However, for the third quarter and the entire fiscal year, the company forecasts constant currency revenue growth to be at the high end of the mid-single digit estimates. 

On July 20, Credit Suisse analyst Sami Badri lowered the price target on International Business Machines Corporation (NYSE:IBM) to $156 from $166 and kept an Outperform rating on the shares after the Q2 results. The analyst still views International Business Machines Corporation (NYSE:IBM) as a notable facilitator of hybrid cloud architectures and one of the primary strategic enablers of a digital transformation.

According to Insider Monkey’s data, 43 hedge funds were bullish on International Business Machines Corporation (NYSE:IBM) at the end of Q1 2022, compared to 44 funds in the last quarter. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the leading stakeholder of the company, with 4.46 million shares worth about $580 million. 

St. James Investment Company mentioned International Business Machines Corporation (NYSE:IBM) in its Q4 2021 investor letter. Here is what the firm had to say:

“IBM was not the first company to build computers. The distinction belongs to Sperry-Rand’s subsidiary UNIVAC, which introduced the first commercially successful computers in the early 1950s. In this era, IBM did possess the largest research and development department of the business machines industry and quickly caught up, introducing cost-competitive computers a few years after UNIVAC. By the late 1950s, IBM held the dominant market share in computers. IBM also touted a vastly superior sales organization, which used a sales tactic called “paper machines” (the equivalent of today’s “vaporware”). If a competitor’s product was selling well in a market segment that IBM had yet to penetrate, the company would announce a competing product and start taking orders for the “paper machine” long before it was available.

One cannot overstate how powerful IBM was in the computer industry in the 1950s and 1960s. Every competitor rightly panic that if their product worked too well for too long, it was only a matter of time before an army of IBM salesforce representatives mobilized. In their easily recognizable uniforms of starched white shirts, red ties and blue suits, IBM marketers marched on their customers and offered a more expensive, but much more defensible, choice. “Nobody gets fired for buying IBM” was a common phrase. Even competitors acknowledged that the company excelled at sales. As a UNIVAC executive once complained, ‘It doesn’t do much good to build a better mousetrap if the other guy selling mousetraps has five times as many salesmen.’” (Click here to see the full text)

7. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 67

NIKE, Inc. (NYSE:NKE), the American multinational retailer of athletic footwear and apparel, is another company that was crushed by a strong dollar. Rising inflation and foreign exchange headwinds impacted results negatively as gross margin declined by 80 basis points to 45% amid increasing freight and logistics costs, while a stronger dollar led to a 4% gap between constant currency sales and the numbers reported. The rampant costs were largely problematic in the greater China region since they added to “higher inventory obsolescence” in the second quarter.

Piper Sandler analyst Abbie Zvejnieks on July 25 initiated coverage of NIKE, Inc. (NYSE:NKE) with a Neutral rating and a $115 price target. NIKE, Inc. (NYSE:NKE)’s gross margins have improved but headwinds in China could be an issue, since it is NIKE, Inc. (NYSE:NKE)’s highest margin region, the analyst told investors. Macro challenges in China, such as pandemic-driven lockdowns and nationalism trends, and uncertain consumer backdrops in the United States and Europe “leave us sidelined,” added the analyst.

Among the hedge funds tracked by Insider Monkey, 67 funds were long NIKE, Inc. (NYSE:NKE) at the end of Q1 2022, compared to 68 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the biggest stakeholder of the company, with 8.2 million shares worth $1.11 billion. 

Here is what ClearBridge All Cap Growth Strategy has to say about NIKE, Inc. (NYSE:NKE) in its Q4 2021 investor letter:

“Nike is another play on e-commerce as well as the anticipated growth in consumer spending as we learn to live with COVID-19. After selling out of the stock in 2016 due to competitive concerns, we were motivated to repurchase shares because of optimism around a new management team’s focus on accelerating Nike’s shift toward e-commerce and direct-to-consumer (DTC) distribution. Near-term supply chain issues in Vietnam and retail weakness in China that we see as ephemeral provided a good buying opportunity. We do not believe the market is giving proper credit to Nike’s potential to deliver attractive, high-single-digit revenue growth while delivering operating margin expansion as more merchandise is sold directly. Nike is also still under indexed to the women’s category, which we see as a significant ongoing catalyst.”

6. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is an American multinational healthcare firm. On July 19, the company slashed guidance despite its above consensus Q2 results. Johnson & Johnson (NYSE:JNJ) cited the strong dollar and unfeasible foreign exchange movements lowering the company’s margins. The company’s CFO observed that the U.S. dollar has reached the same level as the euro, which is “something we haven’t seen in 20 years”. He reiterated that if the dollar were to pull back, Johnson & Johnson (NYSE:JNJ) would revise its guidance accordingly.

On July 21, UBS analyst Kevin Caliendo lowered the price target on Johnson & Johnson (NYSE:JNJ) to $180 from $185 and reaffirmed a Neutral rating on the shares. The company’s Q2 results were indicative of the turbulent macro environment, which includes the significant swing in currency, rampant inflation, and slow elective procedure recovery, the analyst informed investors. 

According to Insider Monkey’s database, Johnson & Johnson (NYSE:JNJ) was part of 83 hedge fund portfolios at the end of Q1 2022, with collective stakes worth $7.40 billion. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with 6.50 million shares valued at $1.15 billion. 

In addition to Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG), a strong dollar hurt Johnson & Johnson (NYSE:JNJ)’s Q2 results.

Click to continue studying and see Strong Dollar is Crushing These 5 Stocks

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Disclosure: None. Strong Dollar is Crushing These 10 Stocks is originally published on Insider Monkey.

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Killexams : Lease Management Software Market Growing Massively by IBM, AppFolio, Yardi

New Jersey, N.J., July 11, 2022 The Lease Management Software Market research report provides all the information related to the industry. It gives the outlook of the market by giving authentic data to its client which helps to make essential decisions. It gives an overview of the market which includes its definition, applications and developments, and manufacturing technology. This Lease Management Software market research report tracks all the exact developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.

Lease management software is a tool used to manage the documentation (financial papers, legal agreements, tenant details, etc.) of leased property or equipment. In addition to centralizing lease document storage, the tool helps leasing companies maintain property portfolios and identify high- and low-performing assets. The market is being driven by the growing need for efficient lease management, which is fueling the demand for SaaS lease management solutions. Property managers are seeking cutting-edge solutions to effectively manage leases, which is driving demand for lease management solutions as the number of smart building projects grows around the world.

Get the PDF trial Copy (Including FULL TOC, Graphs, and Tables) of this report @:

https://www.a2zmarketresearch.com/sample-request/266226

Competitive landscape:

This Lease Management Software research report throws light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.

Some of the Top companies Influencing this Market include:IBM, AppFolio, Yardi, Penske, On-Site, ProLease, Visual Lease, CoStar, Juniper Square, ARGUS Enterprise, ARCHIBUS,

Market Scenario:

Firstly, this Lease Management Software research report introduces the market by providing an overview which includes definition, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in the Lease Management Software report.

Regional Coverage:

The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:

  • North America
  • South America
  • Asia and Pacific region
  • Middle East and Africa
  • Europe

Segmentation Analysis of the market

The market is segmented on the basis of the type, product, end users, raw materials, etc. the segmentation helps to deliver a precise explanation of the market

Market Segmentation: By Type

Market Segmentation: By Application

For Any Query or Customization: https://a2zmarketresearch.com/ask-for-customization/266226

An assessment of the market attractiveness with regard to the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants present in the global Lease Management Software market. To present a clear vision of the market the competitive landscape has been thoroughly analyzed utilizing the value chain analysis. The opportunities and threats present in the future for the key market players have also been emphasized in the publication.

This report aims to provide:

  • A qualitative and quantitative analysis of the current trends, dynamics, and estimations from 2022 to 2029.
  • The analysis tools such as SWOT analysis, and Porter’s five force analysis are utilized which explain the potency of the buyers and suppliers to make profit-oriented decisions and strengthen their business.
  • The in-depth analysis of the market segmentation helps to identify the prevailing market opportunities.
  • In the end, this Lease Management Software report helps to save you time and money by delivering unbiased information under one roof.

Table of Contents

Global Lease Management Software Market Research Report 2022 – 2029

Chapter 1 Lease Management Software Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Lease Management Software Market Forecast

Buy Exclusive Report @: https://www.a2zmarketresearch.com/checkout

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Killexams : Why New York says the old IBM Country Club can't be demolished yet

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Killexams : CIOReview Names Cobalt Iron Among 10 Most Promising IBM Solution Providers 2022

Cobalt Iron Inc., a leading provider of SaaS-based enterprise data protection, today announced that the company has been deemed one of the 10 Most Promising IBM Solution Providers 2022 by CIOReview Magazine. The annual list of companies is selected by a panel of experts and members of CIOReview Magazine's editorial board to recognize and promote innovation and entrepreneurship. A technology partner for IBM, Cobalt Iron earned the distinction based on its Compass® enterprise SaaS backup platform for monitoring, managing, provisioning, and securing the entire enterprise backup landscape.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220728005043/en/

Cobalt Iron Compass® is a SaaS-based data protection platform leveraging strong IBM technologies for delivering a secure, modernized approach to data protection. (Graphic: Business Wire)

Cobalt Iron Compass® is a SaaS-based data protection platform leveraging strong IBM technologies for delivering a secure, modernized approach to data protection. (Graphic: Business Wire)

According to CIOReview, "Cobalt Iron has built a patented cyber-resilience technology in a SaaS model to alleviate the complexities of managing large, multivendor setups, providing an effectual humanless backup experience. This SaaS-based data protection platform, called Compass, leverages strong IBM technologies. For example, IBM Spectrum Protect is embedded into the platform from a data backup and recovery perspective. ... By combining IBM's technologies and the intellectual property built by Cobalt Iron, the company delivers a secure, modernized approach to data protection, providing a 'true' software as a service."

Through proprietary technology, the Compass data protection platform integrates with, automates, and optimizes best-of-breed technologies, including IBM Spectrum Protect, IBM FlashSystem, IBM Red Hat Linux, IBM Cloud, and IBM Cloud Object Storage. Compass enhances and extends IBM technologies by automating more than 80% of backup infrastructure operations, optimizing the backup landscape through analytics, and securing backup data, making it a valuable addition to IBM's data protection offerings.

CIOReview also praised Compass for its simple and intuitive interface to display a consolidated view of data backups across an entire organization without logging in to every backup product instance to extract data. The mahine learning-enabled platform also automates backup processes and infrastructure, and it uses open APIs to connect with ticket management systems to generate tickets automatically about any backups that need immediate attention.

To ensure the security of data backups, Cobalt Iron has developed an architecture and security feature set called Cyber Shield for 24/7 threat protection, detection, and analysis that improves ransomware responsiveness. Compass is also being enhanced to use several patented techniques that are specific to analytics and ransomware. For example, analytics-based cloud brokering of data protection operations helps enterprises make secure, efficient, and cost-effective use of their cloud infrastructures. Another patented technique - dynamic IT infrastructure optimization in response to cyberthreats - offers unique ransomware analytics and automated optimization that will enable Compass to reconfigure IT infrastructure automatically when it detects cyberthreats, such as a ransomware attack, and dynamically adjust access to backup infrastructure and data to reduce exposure.

Compass is part of IBM's product portfolio through the IBM Passport Advantage program. Through Passport Advantage, IBM sellers, partners, and distributors around the world can sell Compass under IBM part numbers to any organizations, particularly complex enterprises, that greatly benefit from the automated data protection and anti-ransomware solutions Compass delivers.

CIOReview's report concludes, "With such innovations, all eyes will be on Cobalt Iron for further advancements in humanless, secure data backup solutions. Cobalt Iron currently focuses on IP protection and continuous R&D to bring about additional cybersecurity-related innovations, promising a more secure future for an enterprise's data."

About Cobalt Iron

Cobalt Iron was founded in 2013 to bring about fundamental changes in the world's approach to secure data protection, and today the company's Compass® is the world's leading SaaS-based enterprise data protection system. Through analytics and automation, Compass enables enterprises to transform and optimize legacy backup solutions into a simple cloud-based architecture with built-in cybersecurity. Processing more than 8 million jobs a month for customers in 44 countries, Compass delivers modern data protection for enterprise customers around the world. www.cobaltiron.com

Product or service names mentioned herein are the trademarks of their respective owners.

Link to Word Doc: www.wallstcom.com/CobaltIron/220728-Cobalt_Iron-CIOReview_Top_IBM_Provider_2022.docx

Photo Link: www.wallstcom.com/CobaltIron/Cobalt_Iron_CIO_Review_Top_IBM_Solution_Provider_Award_Logo.pdf

Photo Caption: Cobalt Iron Compass® is a SaaS-based data protection platform leveraging strong IBM technologies for delivering a secure, modernized approach to data protection.

Follow Cobalt Iron

https://twitter.com/cobaltiron
https://www.linkedin.com/company/cobalt-iron/
https://www.youtube.com/user/CobaltIronLLC

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Killexams : IBM RELEASES SECOND QUARTER RESULTS

Growth Across Key Segments Led by Hybrid Cloud Adoption; Solid Cash and Profit Generation

ARMONK, N.Y., July 18, 2022 /PRNewswire/ -- IBM (NYSE: IBM) today announced second-quarter 2022 earnings results.

IBM Corporation logo. (PRNewsfoto/IBM)

"In the quarter we delivered good revenue performance with balanced growth across our geographies, driven by client demand for our hybrid cloud and AI offerings. The IBM team executed our strategy well," said Arvind Krishna, IBM chairman and chief executive officer. "With our first half results, we continue to expect full-year revenue growth at the high end of our mid-single digit model."

Second-Quarter Highlights

  • Revenue
    - Revenue of $15.5 billion, up 9 percent, up 16 percent at constant currency (about 5 points from sales to Kyndryl)
    - Software revenue up 6 percent, up 12 percent at constant currency (about 7 points from sales to Kyndryl)
    - Consulting revenue up 10 percent, up 18 percent at constant currency
    - Infrastructure revenue up 19 percent, up 25 percent at constant currency (about 7 points from sales to Kyndryl)
    - Hybrid cloud revenue, over the last 12 months, of $21.7 billion, up 16 percent, up 19 percent at constant currency
  • Cash Flow
    - On a consolidated basis, year to date, net cash from operating activities of $4.6 billion; free cash flow of $3.3 billion 
SECOND QUARTER 2022 INCOME STATEMENT SUMMARY
Pre-tax 
Gross Pre-tax  Income  Net  Diluted 
Revenue Profit Income Margin Income EPS
GAAP from
Continuing
Operations
$ 15.5B $ 8.3B $ 1.7B 11.1 % $ 1.5B $ 1.61
    Year/Year 9 %* 6 % 89 % 4.7 Pts 81 % 79 %
Operating
(Non-GAAP)
$ 8.5B $ 2.5B 16.2 % $ 2.1B $ 2.31
    Year/Year 5 % 48 % 4.2 Pts 45 % 43 %
*16% at constant currency

"We are a faster-growing, focused, disciplined company with sound business fundamentals," said James Kavanaugh, IBM senior vice president and chief financial officer. "Our recurring revenue stream and solid cash generation position us well to continue to invest in R&D, acquire new companies, and strengthen our talent in every part of the business, while also returning value to shareholders through our dividend."

Segment Results for Second Quarter

  • Software (includes Hybrid Platform & Solutions, Transaction Processing)— revenues of $6.2 billion, up 6.4 percent, up 11.6 percent at constant currency (about 7 points from sales to Kyndryl):
    - Hybrid Platform & Solutions up 4 percent, up 9 percent at constant currency (about 1.5 points from sales to Kyndryl):
       -- Red Hat up 12 percent, up 17 percent at constant currency
       -- Automation up 4 percent, up 8 percent at constant currency
       -- Data & AI flat, up 4 percent at constant currency
       -- Security flat, up 5 percent at constant currency
    - Transaction Processing up 12 percent, up 19 percent at constant currency (about 22 points from sales to Kyndryl)
    - Software segment hybrid cloud revenue up 14 percent, up 18 percent at constant currency
  • Consulting (includes Business Transformation, Technology Consulting and Application Operations)— revenues of $4.8 billion, up 9.8 percent, up 17.8 percent at constant currency:
    - Business Transformation up 9 percent, up 16 percent at constant currency
    - Technology Consulting up 14 percent, up 23 percent at constant currency
    - Application Operations up 9 percent, up 17 percent at constant currency
    - Consulting segment hybrid cloud revenue up 20 percent, up 29 percent at constant currency
  • Infrastructure (includes Hybrid Infrastructure, Infrastructure Support)— revenues of $4.2 billion, up 19.0 percent, up 25.4 percent at constant currency (about 7 points from sales to Kyndryl):
    - Hybrid Infrastructure up 34 percent, up 41 percent at constant currency (about 7 points from sales to Kyndryl)
       -- IBM z Systems up 69 percent, up 77 percent at constant currency
       -- Distributed Infrastructure up 11 percent, up 17 percent at constant currency
    - Infrastructure Support down 2 percent, up 5 percent at constant currency (about 8 points from sales to Kyndryl)
    - Infrastructure segment hybrid cloud revenue up 24 percent, up 30 percent at constant currency
  • Financing (includes client and commercial financing)— revenues of $0.1 billion, down 29.9 percent, down 26.6 percent at constant currency

Cash Flow and Balance Sheet
On a consolidated basis, in the second quarter, the company generated net cash from operating activities of $1.3 billion or $2.6 billion excluding IBM Financing receivables. IBM's free cash flow was $2.1 billion. The company returned $1.5 billion to shareholders in dividends in the second quarter.

On a consolidated basis, for the first six months of the year, the company generated net cash from operating activities of $4.6 billion or $4.2 billion excluding IBM Financing receivables. IBM's free cash flow was $3.3 billion, which includes cash impacts from the company's structural actions initiated at the end of 2020.

IBM ended the second quarter with $7.8 billion of cash on hand (which includes marketable securities), up $0.2 billion from year-end 2021. Debt, including IBM Financing debt of $12.3 billion, totaled $50.3 billion, down $1.4 billion since the end of 2021.

Full-Year 2022 Expectations

  • Revenue growth: The company continues to expect constant currency revenue growth at the high end of its mid-single digit model. The company also expects an additional 3.5 point contribution from incremental sales to Kyndryl. At mid-July 2022 foreign exchange rates, currency is expected to be about a six-point headwind.
  • Free Cash Flow: The company now expects about $10 billion in consolidated free cash flow.

Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company's current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; a failure of the company's innovation initiatives; damage to the company's reputation; risks from investing in growth opportunities; failure of the company's intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; the company's ability to successfully manage acquisitions, alliances and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities, and higher debt levels; fluctuations in financial results; impact of local legal, economic, political, health and other conditions; the company's failure to meet growth and productivity objectives; ineffective internal controls; the company's use of accounting estimates; impairment of the company's goodwill or amortizable intangible assets; the company's ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product quality issues; impacts of business with government clients; reliance on third party distribution channels and ecosystems; cybersecurity and data privacy considerations; adverse effects related to climate change and environmental matters, tax matters; legal proceedings and investigatory risks; the company's pension plans; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; potential failure of the separation of Kyndryl Holdings, Inc. to qualify for tax-free treatment; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company's Form 10-Qs, Form 10-K and in the company's other filings with the U.S. Securities and Exchange Commission or in materials incorporated therein by reference. Any forward-looking statement in this release speaks only as of the date on which it is made. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements.

Presentation of Information in this Press Release
On November 3, 2021, IBM completed the separation of Kyndryl. Unless otherwise specified, results are presented on a continuing operations basis. All references to revenue impacts from sales to Kyndryl are incremental sales post-separation.

In an effort to provide investors with additional information regarding the company's results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors: 

IBM results —

  • adjusting for currency (i.e., at constant currency);
  • presenting operating (non-GAAP) earnings per share amounts and related income statement items;
  • consolidated free cash flow;
  • consolidated cash from operating activities excluding IBM Financing receivables;

The rationale for management's use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8‑K that includes this press release and is being submitted today to the SEC.

Conference Call and Webcast
IBM's regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-2q22. Presentation charts will be available shortly before the Webcast.

Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts).

Contact:       IBM
                    Sarah Meron, 347 891 1770
                    sarah.meron@ibm.com 
    
                    Tim Davidson, 914 844 7847
                    tfdavids@us.ibm.com  

 

INTERNATIONAL BUSINESS MACHINES CORPORATION COMPARATIVE FINANCIAL RESULTS (Unaudited; Dollars in millions except per share amounts)
Three Months Ended Six Months Ended
June 30,  June 30, 
2022 2021* 2022 2021*
REVENUE
Software $ 6,166 $ 5,795 $ 11,938 $ 10,933
Consulting 4,809 4,378 9,637 8,641
Infrastructure 4,235 3,560 7,453 6,853
Financing 146 209 300 417
Other 180 277 404 561
TOTAL REVENUE 15,535 14,218 29,732 27,405
GROSS PROFIT 8,290 7,852 15,625 14,879
GROSS PROFIT MARGIN
Software 79.2 % 79.7 % 79.0 % 78.8 %
Consulting 24.2 % 27.6 % 24.3 % 27.7 %
Infrastructure 53.8 % 57.1 % 52.4 % 56.7 %
Financing 35.3 % 29.9 % 36.5 % 32.7 %
TOTAL GROSS PROFIT MARGIN 53.4 % 55.2 % 52.6 % 54.3 %
EXPENSE AND OTHER INCOME
S,G&A 4,855 4,849 9,452 9,536
R,D&E 1,673 1,641 3,352 3,257
Intellectual property and custom development income (176) (133) (297) (278)
Other (income) and expense (81) 302 166 647
Interest expense 297 281 607 561
TOTAL EXPENSE AND OTHER INCOME 6,568 6,940 13,280 13,724
INCOME/(LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES 1,722 912 2,345 1,155
Pre-tax margin 11.1 % 6.4 % 7.9 % 4.2 %
Provision for/(Benefit from) income taxes 257 101 218 (58)
Effective tax rate 14.9 % 11.1 % 9.3 % (5.0) %
INCOME FROM CONTINUING OPERATIONS $ 1,465 $ 810 $ 2,127 $ 1,213
DISCONTINUED OPERATIONS
Income/(Loss) from discontinued operations, net of taxes (73) 515 (2) 1,067
NET INCOME $ 1,392 $ 1,325 $ 2,125 $ 2,280
EARNINGS/(LOSS) PER SHARE OF COMMON STOCK
Assuming Dilution
Continuing Operations $ 1.61 $ 0.90 $ 2.34 $ 1.34
Discontinued Operations $ (0.08) $ 0.57 $ 0.00 $ 1.18
TOTAL $ 1.53 $ 1.47 $ 2.34 $ 2.52
Basic
Continuing Operations $ 1.62 $ 0.91 $ 2.36 $ 1.36
Discontinued Operations $ (0.08) $ 0.57 $ 0.00 $ 1.19
TOTAL $ 1.54 $ 1.48 $ 2.36 $ 2.55
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (M's)
Assuming Dilution 910.7 904.2 910.0 903.0
Basic 901.5 895.0 900.4 894.3
____________________
* Recast to conform with 2022 presentation.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
At At
June 30,  December 31, 
(Dollars in Millions) 2022 2021
ASSETS:
Current Assets:
Cash and cash equivalents $ 7,034 $ 6,650
Restricted cash 220 307
Marketable securities 524 600
Notes and accounts receivable - trade, net 5,867 6,754
Short-term financing receivables, net 7,233 8,014
Other accounts receivable, net 909 1,002
Inventories 1,684 1,649
Deferred costs 1,010 1,097
Prepaid expenses and other current assets 3,414 3,466
Total Current Assets 27,896 29,539
Property, plant and equipment, net 5,275 5,694
Operating right-of-use assets, net 2,848 3,222
Long-term financing receivables, net 5,316 5,425
Prepaid pension assets 9,930 9,850
Deferred costs 865 924
Deferred taxes 7,073 7,370
Goodwill 55,039 55,643
Intangibles, net 11,571 12,511
Investments and sundry assets 1,689 1,823
Total Assets $ 127,503 $ 132,001
LIABILITIES:
Current Liabilities:
Taxes $ 1,742 $ 2,289
Short-term debt 5,981 6,787
Accounts payable 3,707 3,955
Deferred income 12,522 12,518
Operating lease liabilities 884 974
Other liabilities 7,008 7,097
Total Current Liabilities 31,844 33,619
Long-term debt 44,328 44,917
Retirement related obligations 13,118 14,435
Deferred income 3,069 3,577
Operating lease liabilities 2,182 2,462
Other liabilities 13,486 13,996
Total Liabilities 108,026 113,005
EQUITY:
IBM Stockholders' Equity:
Common stock 57,802 57,319
Retained earnings 153,298 154,209
Treasury stock — at cost (169,522) (169,392)
Accumulated other comprehensive income/(loss) (22,169) (23,234)
Total IBM Stockholders' Equity 19,409 18,901
Noncontrolling interests 67 95
Total Equity 19,476 18,996
Total Liabilities and Equity $ 127,503 $ 132,001

 

INTERNATIONAL BUSINESS MACHINES CORPORATION CASH FLOW ANALYSIS (Unaudited)
Trailing Twelve
Three Months Ended Six Months Ended Months Ended
June 30,  June 30,  June 30, 
(Dollars in Millions) 2022 2021 2022 2021 2022
Consolidated Net Cash from Operations per GAAP $ 1,321 $ 2,625 $ 4,569 $ 7,539 $ 9,826
Less: change in IBM Financing receivables (1,264) 900 367 3,763 511
Capital Expenditures, net (494) (688) (871) (1,217) (2,035)
Consolidated Free Cash Flow 2,091 1,037 3,331 2,559 7,279
Acquisitions (260) (1,747) (958) (2,866) (1,385)
Divestitures 1,207 (10) 1,268 (25) 1,408
Dividends (1,488) (1,467) (2,963) (2,924) (5,907)
Non-Financing Debt (2,934) (586) 1,740 (2,331) 2,880
Other (includes IBM Financing net receivables and debt) (1,607) (335) (2,197) (522) (4,661)
Change in Cash, Cash Equivalents, Restricted Cash and Short-term
Marketable Securities*
$ (2,991) $ (3,108) $ 221 $ (6,110) $ (387)
____________________
* Cash flows are presented on a consolidated basis. 

 

INTERNATIONAL BUSINESS MACHINES CORPORATION CASH FLOW (Unaudited)
Three Months Ended Six Months Ended
June 30,  June 30, 
(Dollars in Millions) 2022 2021 2022 2021
Net Income from Operations $ 1,392 $ 1,325 $ 2,125 $ 2,280
Depreciation/Amortization of Intangibles 1,245 1,680 2,501 3,352
Stock-based Compensation 254 243 488 457
Working Capital / Other (307) (1,524) (912) (2,313)
IBM Financing A/R (1,264) 900 367 3,763
Net Cash Provided by Operating Activities $ 1,321 $ 2,625 $ 4,569 $ 7,539
Capital Expenditures, net of payments & proceeds (494) (688) (871) (1,217)
Divestitures, net of cash transferred 1,207 (10) 1,268 (25)
Acquisitions, net of cash acquired (260) (1,747) (958) (2,866)
Marketable Securities / Other Investments, net (281) (227) (625) (562)
Net Cash Provided by/(Used in) Investing Activities $ 172 $ (2,671) $ (1,186) $ (4,671)
Debt, net of payments & proceeds (2,514) (1,500) 434 (5,799)
Dividends (1,488) (1,467) (2,963) (2,924)
Financing - Other (195) (163) (290) (190)
Net Cash Provided by/(Used in) Financing Activities $ (4,197) $ (3,131) $ (2,819) $ (8,914)
Effect of Exchange Rate changes on Cash (262) 69 (267) (65)
Net Change in Cash, Cash Equivalents and Restricted Cash* $ (2,965) $ (3,108) $ 297 $ (6,110)
____________________
* Cash flows are presented on a consolidated basis. 

 

INTERNATIONAL BUSINESS MACHINES CORPORATION SEGMENT DATA (Unaudited)
Three Months Ended June 30, 2022
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 6,166 $ 4,809 $ 4,235 $ 146
Pre-tax Income/(Loss) from Continuing Operations $ 1,375 $ 343 $ 757 $ 102
Pre-tax Margin 22.3 % 7.1 % 17.9 % 69.7 %
Change YTY Revenue 6.4 % 9.8 % 19.0 % (29.9) %
Change YTY Revenue - constant currency 11.6 % 17.8 % 25.4 % (26.6) %
Three Months Ended June 30, 2021*
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 5,795 $ 4,378 $ 3,560 $ 209
Pre-tax Income/(Loss) from Continuing Operations $ 1,059 $ 270 $ 489 $ 131
Pre-tax Margin 18.3 % 6.2 % 13.7 % 63.0 %
____________________
* Recast to conform with 2022 presentation. 
Six Months Ended June 30, 2022
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 11,938 $ 9,637 $ 7,453 $ 300
Pre-tax Income/(Loss) from Continuing Operations $ 2,509 $ 691 $ 956 $ 186
Pre-tax Margin 21.0 % 7.2 % 12.8 % 62.0 %
Change YTY Revenue 9.2 % 11.5 % 8.8 % (28.0) %
Change YTY Revenue - constant currency 13.4 % 17.6 % 13.4 % (25.5) %
Six Months Ended June 30, 2021*
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 10,933 $ 8,641 $ 6,853 $ 417
Pre-tax Income/(Loss) from Continuing Operations $ 1,717 $ 547 $ 780 $ 229
Pre-tax Margin 15.7 % 6.3 % 11.4 % 55.0 %
____________________
* Recast to conform with 2022 presentation.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION (Unaudited; Dollars in millions except per share amounts)
Three Months Ended June 30, 2022
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 8,290 $ 180 $ $ $ $ 8,470
Gross Profit Margin 53.4 % 1.2  pts.    pts.    pts.    pts.   54.5 %
S,G&A $ 4,855 $ (279) $ $ $ (0) $ 4,576
Other (Income) & Expense (81) (1) (192) (145) (418)
Total Expense & Other (Income) 6,568 (280) (192) (145) 5,952
Pre-tax Income from Continuing 1,722 460 192 145 2,518
Pre-tax Income Margin from 11.1 % 3.0  pts.   1.2  pts.    pts.   0.9  pts.   16.2 %
Provision for/(Benefit from) Income $ 257 $ 115 $ 46 $ (4) $ $ 413
Effective Tax Rate 14.9 % 1.8  pts.   0.7  pts.   (0.2)  pts.   (0.9)  pts.   16.4 %
Income from Continuing Operations $ 1,465 $ 345 $ 146 $ 4 $ 145 $ 2,105
Income Margin from Continuing 9.4 % 2.2  pts.   0.9  pts.   0.0  pts.   0.9  pts.   13.5 %
Diluted Earnings/(Loss) Per Share: $ 1.61 $ 0.38 $ 0.16 $ 0.00 $ 0.16 $ 2.31
Three Months Ended June 30, 2021
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 7,852 $ 179 $ $ $ $ 8,031
Gross Profit Margin 55.2 % 1.3  pts.    pts.    pts.    pts.   56.5 %
S,G&A $ 4,849 $ (294) $ $ $ $ 4,555
Other (Income) & Expense 302 (1) (317) (16)
Total Expense & Other (Income) 6,940 (294) (317) 6,329
Pre-tax Income/(Loss) from Continuing 912 474 317 1,702
Pre-tax Income Margin from 6.4 % 3.3  pts.   2.2  pts.    pts.    pts.   12.0 %
Provision for/(Benefit from) Income $ 101 $ 105 $ 53 $ (14) $ $ 246
Effective Tax Rate 11.1 % 3.1  pts.   1.0  pts.   (0.8)  pts.    pts.   14.5 %
Income from Continuing Operations $ 810 $ 368 $ 264 $ 14 $ $ 1,456
Income Margin from Continuing 5.7 % 2.6  pts.   1.9  pts.   0.1  pts.    pts.   10.2 %
Diluted Earnings/(Loss) Per Share: $ 0.90 $ 0.41 $ 0.29 $ 0.01 $ $ 1.61
____________________
(1)  Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related to acquisition
(2)  Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan curtailments/
(3)  Primarily relates to the fair value changes in the retained Kyndryl common stock and the related cash-settled swap.
(4)  Tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to the As Reported pre-tax

 

INTERNATIONAL BUSINESS MACHINES CORPORATION U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION (Unaudited; Dollars in millions except per share amounts)
Six Months Ended June 30, 2022
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 15,625 $ 361 $ $ $ $ 15,986
Gross Profit Margin 52.6 % 1.2  pts.    pts.    pts.    pts.   53.8 %
S,G&A $ 9,452 $ (565) $ $ $ (0) $ 8,887
Other (Income) & Expense 166 (1) (394) (367) (596)
Total Expense & Other (Income) 13,280 (566) (394) (367) 11,953
Pre-tax Income from Continuing 2,345 928 394 367 4,033
Pre-tax Income Margin from 7.9 % 3.1  pts.   1.3  pts.    pts.   1.2  pts.   13.6 %
Provision for/(Benefit from) Income $ 218 $ 224 $ 104 $ 112 $ $ 657
Effective Tax Rate 9.3 % 3.4  pts.   1.7  pts.   2.8  pts.   (0.8)  pts.   16.3 %
Income from Continuing Operations $ 2,127 $ 704 $ 290 $ (112) $ 367 $ 3,376
Income Margin from Continuing 7.2 % 2.4  pts.   1.0  pts.   (0.4)  pts.   1.2  pts.   11.4 %
Diluted Earnings/(Loss) Per Share: $ 2.34 $ 0.77 $ 0.32 $ (0.12) $ 0.40 $ 3.71
Six Months Ended June 30, 2021
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 14,879 $ 353 $ $ $ $ 15,232
Gross Profit Margin 54.3 % 1.3  pts.    pts.    pts.    pts.   55.6 %
S,G&A $ 9,536 $ (582) $ $ $ $ 8,954
Other (Income) & Expense 647 (1) (649) (3)
Total Expense & Other (Income) 13,724 (583) (649) 12,491
Pre-tax Income from Continuing 1,155 936 649 2,741
Pre-tax Income Margin from 4.2 % 3.4  pts.   2.4  pts.    pts.    pts.   10.0 %
Provision for/(Benefit from) Income $ (58) $ 238 $ 86 $ 6 $ $ 272
Effective Tax Rate (5.0) % 10.4  pts.   4.3  pts.   0.2  pts.    pts.   9.9 %
Income from Continuing Operations $ 1,213 $ 699 $ 563 $ (6) $ $ 2,469
Income Margin from Continuing 4.4 % 2.5  pts.   2.1  pts.   (0.0)  pts.    pts.   9.0 %
Diluted Earnings/(Loss) Per Share: $ 1.34 $ 0.77 $ 0.62 $ (0.01) $ $ 2.73
____________________
(1)  Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related
(2)  Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan
(3)  Primarily relates to the fair value changes in the retained Kyndryl common stock and the related cash-settled swap.
(4)  Tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to the As

 

 

Cision View original content to obtain multimedia:https://www.prnewswire.com/news-releases/ibm-releases-second-quarter-results-301588504.html

SOURCE IBM

Mon, 18 Jul 2022 08:10:00 -0500 en text/html https://markets.businessinsider.com/news/stocks/ibm-releases-second-quarter-results-1031594969
Killexams : Fiddler Announces Updates to AI Model Management Platform

SAN FRANCISCO, July 28, 2022 — Fiddler today announced major improvements to its MPM platform, including model ingestion at giga-scale, natural language processing (NLP) and computer vision (CV) monitoring, class imbalance, and an intuitive and streamlined user experience. With these new features, the Fiddler MPM platform is delivering a deeper understanding of unstructured model behavior and performance, and enhanced scalability, discoverability of rare and nuanced model drifts, and ease of use.

According to IBM’s Global AI Adoption Index 2022, a majority of organizations have not taken key steps to ensure their AI is trustworthy and responsible. Such steps include reducing bias (74%), tracking performance variations and model drift (68%), and making sure they can explain AI-powered decisions (61%). By operationalizing machine learning in a safe and trustworthy way and going beyond metrics to explain results, the Fiddler MPM platform makes more transparent AI models a reality.

The combined power of the new Fiddler capabilities will help enterprises across finance, banking, insurance, healthcare, defense, criminal justice, retail, and travel advance their AI efforts and deliver responsible models. Specifically, Fiddler has added capabilities to empower global organizations and Fortune 500 companies to:

  • Monitor NLP and CV – Fiddler will now provide vector monitoring capabilities to help organizations gain a deeper understanding of more complex ML models in production that involve unstructured data such as text, images, embeddings, and intermediate model representations.
  • Address Class Imbalance – While the probability of a low-frequency event occurring is rare, it is also relatively hard to detect. Fiddler helps organizations discover nuanced model drifts in minority segments and surface fraud-like use cases in finance, retail, gaming, manufacturing, and education industries, among others.

Fiddler has also created a single pane of glass UI, providing data science and MLOps teams with command center-like visibility into every model’s behavior and performance across training and production. Teams can view, prioritize, and manage updates, alerts, versions, traffic, and drifts from a centralized homepage. Additionally, customers can now choose where to deploy their models to fit their company’s needs – whether that be on-premises, cloud, or both.

“AI model development is pivotal to our company’s ability to hire, vet, and match the world’s top software development and engineering talent with quality job opportunities,” said Jonathan Siddharth, CEO and Founder, Turing, a Fiddler customer. “We have invested in Fiddler to monitor models and ensure that our AI is consistently fair and explainable. Their platform and new enhancements demonstrate the path forward to making responsible AI a reality for every organization.”

“In order for organizations to be successful with AI, it is critical they ensure that underlying machine learning models are robust to shifts in the data, are not relying on spurious features, and are not unduly discriminating against minority groups,” said Krishna Gade, Founder and CEO, Fiddler. “Our new capabilities provide enterprises with even greater visibility throughout the entire model lifecycle. The ability to understand and explain unstructured data and discover rare but costly model drifts is game changing, and opens up tremendous AI opportunities across a plethora of use cases and a diverse set of industries. With Fiddler, organizations can deliver enterprise-scale AI models that power greater business results and responsible and fair outcomes for consumers.”

To learn more about Fiddler, visit: www.fiddler.ai.

About Fiddler

Fiddler is a pioneer in Model Performance Management for responsible AI. The Fiddler platform’s unified environment provides a common language, centralized controls, and actionable insights to operationalize ML/AI with trust. Model monitoring, explainable AI, analytics, and fairness capabilities address the unique challenges of building in-house stable and secure MLOps systems at scale.

Unlike observability solutions, Fiddler integrates deep XAI and analytics to help you grow into advanced capabilities over time and build a framework for responsible AI practices. Fortune 500 organizations use Fiddler across training and production models to accelerate AI time-to-value and scale, build trusted AI solutions, and increase revenue.


Source: Fiddler

Thu, 28 Jul 2022 04:00:00 -0500 text/html https://www.datanami.com/this-just-in/fiddler-announces-updates-to-ai-model-management-platform/
Killexams : Meet Winners Of IBM SmartCamp 2015 Kochi Edition

IBM Global Entrepreneurship Program (GEP) has announced the winners of its first edition of SmartCamp held at Kochi.

Here is the list of five startups that made it to IBM SmartCamp 2015 for Kochi edition:

agrimaAgrima Infotech: The startup focuses on robotics, android/windows app development, artificial Iintelligence and other IT services. It has developed a virtual personal assistant app named VIKI exclusively for BlackBerry devices to help resolve customer care queries.

Realeffecx Technolabs LLP: The startup provides a simple interface platform to customize apparels in 3D. With this, the user can express ideas to a designer in customizing apparels.

finahubFinahub Technology Solutions Pvt Ltd: Finahub provides a SaaS (Software as a Service) customer management platform for retail brokerage firms in India. Its flagship product, Kinship platform enables the firms to Boost customer engagement by using all customer interaction data available on its platform.

transightTransight: Transight is an application used for live vehicle tracking, fuel management and alerting while vehicle over speeds.

induniaIndunia RealTech Limited: Indunia is a real estate marketplace which is based on simple, value based subscription model.

IBM SmartCamp 2015 is a startup challenge in which startups will pitch to IBM executives, VCs and government executives.

After getting selected from all the nine cities, the startups will compete in regional finals that will be held in Mumbai, Delhi and Bangalore.

The event will culminate with a final showdown, wherein, top six startups will pitch to eminent VCs (e.g. Nexus Ventures, Intel Ventures, Seedfund, Reservoir Ventures, Ravi Gururaj) in Bangalore.

Global Entrepreneur Program was launched last year by IBM with an aim to provide comprehensive and strong network resources to drive collaborative cloud innovation for startups.

This time GEP plans to have IBM Smartcamp 2015 in nine different startup hotspots (cities) including Kochi, Hyderabad, Chennai, Visakhapatnam, Ahmedabad, Pune, Mumbai, Bangalore and Delhi, which started from September 8, 2015.

Startups can apply for the program to the nearest city beginning from September 8, 2015 by filling this form.

[This article is part of a sponsored series by IBM SmartCamp]

Sat, 09 Jul 2022 12:00:00 -0500 Akanksha Pahwa en text/html https://inc42.com/buzz/ibm-smartcamp-2015-kochi-winners/
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