Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Jim Cramer Weighs in on IBM Earnings, Tesla Downgrade and Trade Talks

Video Credit: The Street - Duration: 13:43s - Published < > Embed
Jim Cramer Weighs in on IBM Earnings, Tesla Downgrade and Trade Talks

Jim Cramer Weighs in on IBM Earnings, Tesla Downgrade and Trade Talks

We're halfway through the week already.

At the open on Wednesday, Jan.

23, the Dow was up 206.23 points.

The Nasdaq was up 42.61 and the S&P 500 was up 12.56.

IBM Earnings IBM is Real Money's stock of the day.

IBM said adjusted earnings for the three months ending in December came in at $4.87 per share, down 5% from the same period last year but ahead of the Street consensus of $4.82 per share.

Group sales were also softer than the prior period, falling 1% to $21.76 billion, but the figure topped estimates and IBM said it sees free cash flow for 2019 of around $12 billion, largely in-line with its tally over the past year, reported TheStreet's Martin Baccardax.

"We see the strong bookings Red Hat recently reported as further evidence of clients' confidence in the value," IBM CFO Jim Kavanaugh told investors on a conference call late Tuesday.

"Remember, the quarter ended a month after the transaction was announced.

From a value perspective, in addition to the growing Red Hat business itself, we see an opportunity to lift all of IBM by selling more of our own IBM Cloud and by selling more of our analytics and AI capabilities on OpenShift across multiple platforms." Tesla's Newest Downgrade TheStreet's Tony Owusu reported on Tesla's most recent downgrade.

The company's growth story is in jeopardy, according to the latest RBC note on the electric vehicle maker.

The firm's analysts downgraded the stock to underperform from outperform, sending the stock down 1.8% to $293.60 in premarket trading Wednesday.

The firm also cut the company's price target to $245 from $290, saying that Tesla's growth expectations are too high.

"It's not that we don't believe Tesla can grow over time, our model shows solid LT growth.

But the current valuation already considers overly lofty expectations," analyst Joseph Spak wrote.

"The company seems to be more tactful with messaging which is a long-term positive, but means downward pressure to growth expectations - which in our view are too high to justify current levels, let alone to add to positions." Cancelled Trade Talks?

Late Tuesday, it was reported that Trump administration officials turned down the opportunity to meet with two Chinese vice ministers.

White House Economic Adviser Larry Kudlow denied reports of cancelled U.S.-China trade talks, but says President Trump won't "back down' on demands for structural changes.

In his Real Money column Tuesday, Cramer wrote about the weakness in China and how it could benefit the U.S.-China trade talks.

He then explained his thinking in Tuesday's Facebook live show, which can be found here.

0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Jim Cramer Gives His Quick Take On Earnings [Video]Jim Cramer Gives His Quick Take On Earnings

tk

Credit: The Street     Duration: 00:57Published

Jim Cramer's Takeaway From Abbott's Earnings [Video]Jim Cramer's Takeaway From Abbott's Earnings

Abbott Labs reported first-quarter earnings that topped its own forecast. Abbott reported adjusted earnings of 63 cents per share on revenue of $7.5 billion, a 2% year-over-year increase. Analysts..

Credit: The Street     Duration: 01:30Published

Jim Cramer: Should You Sell Shares After a Company Announces Weak Guidance? [Video]Jim Cramer: Should You Sell Shares After a Company Announces Weak Guidance?

Netflix announced weak guidance when it released earnings Tuesday after the bell. The company said it added 9.6 million paid streaming subscribers in the first quarter, beating guidance of 8.9..

Credit: The Street     Duration: 00:56Published

Jim Cramer's Response to Netflix's Earnings [Video]Jim Cramer's Response to Netflix's Earnings

Netflix said it added 9.6 million paid streaming subscribers in the first quarter, beating guidance of 8.9 million, but its outlook for the second quarter disappointed. First-quarter earnings of 76..

Credit: The Street     Duration: 01:23Published

Jim Cramer's Thoughts on Abbott and Netflix Earnings, Qualcomm and Apple [Video]Jim Cramer's Thoughts on Abbott and Netflix Earnings, Qualcomm and Apple

Here's what Jim Cramer is watching in the markers Wednesday morning. Abbott's Earnings Abbott Labs reported first-quarter earnings that topped its own forecast. Abbott reported adjusted earnings of 63..

Credit: The Street     Duration: 05:13Published

What Is FAANG? Jim Cramer Explains [Video]What Is FAANG? Jim Cramer Explains

Ready for some investing education? Jim Cramer explains FAANG--Facebook , Apple , Amazon , Netflix and Alphabet . "What is Fang? Facebook. Amazon. Yeah. What are, what does that break down? And..

Credit: The Street     Duration: 01:06Published

Jim Cramer: What Bank of America Means for the Banks [Video]Jim Cramer: What Bank of America Means for the Banks

Bank of America said first-quarter profit rose by 6%, as cost cuts helped to overcome a soft trading environment, wrote TheStreet's Bradley Keoun Net income climbed to $7.3 billion, the..

Credit: The Street     Duration: 00:42Published

Why UnitedHealth Is Real Money's Stock of the Day [Video]Why UnitedHealth Is Real Money's Stock of the Day

United Healthcare on Tuesday reported first-quarter earnings that beat analysts' forecasts, and lifted its outlook on expectations that it will continue to expand benefits while managing costs, wrote..

Credit: The Street     Duration: 00:46Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.