On Tuesday, Shares of International Business Machines Corp. (NYSE:IBM), lost -5.72% to $140.68.
International Business Machines Corp., declared third-quarter 2015 diluted earnings from ongoing operations of $3.02 per share, down 13 percent year-to-year. Operating (non-GAAP) diluted earnings from ongoing operations were $3.34 per share, contrast with operating diluted earnings of $3.68 per share in the third quarter of 2014, a decrease of 9 percent.
In the third quarter we again made progress in the transformation of our business to higher value, with strong growth in our planned imperatives and expanded operating margins,” said Ginni Rometty, IBM chairman, president and chief executive officer. We are ongoing to make noteworthyinvestments to build platforms around analytics, cloud, mobility and security that lay the foundation for a new era of cognitive business where we see long-term value for our clients and shareholders.
Third-quarter net income from ongoing operations was $3.0 billion contrast with $3.5 billion in the third quarter of 2014, a decrease of 14 percent. Operating (non-GAAP) net income was $3.3 billion contrast with $3.7 billion in the third quarter of 2014, a decrease of 11 percent, influenced by currency.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
Shares of United Technologies Corporation (NYSE:UTX), inclined 3.90% to $95.64, during its last trading session.
United Technologies Corp., stated third quarter 2015 results. All results in this release reflect ongoing operations unless otherwise noted.
Third quarter earnings per share of $1.61 and net income attributable to common shareowners of $1.4 billion were down 17 percent and 19 percent, respectively, as compared to the third quarter of 2014. Results for the current quarter comprise restructuring costs of $0.06 per share, while earnings per share in the year ago quarter comprised $0.22 of favorable one-time items net of restructuring. Not Taking Into Account these items in both quarters, earnings per share of $1.67 reduced 2 percent year-over-year. Foreign currency had an unfavorable impact of $0.05, or 3 percent in the quarter. Not Taking Into Account the impact of both unfavorable foreign exchange rate changes and restructuring and one-time items, earnings per share were up 1 percent year-over-year.
Sales of $13.8 billion reduced by 6 percent in the quarter, driven by 5 points of adverse foreign exchange and a 1 point decline in organic sales primarily attributed to a delay in engine deliveries as a result of the transition to a new logistics center at Pratt & Whitney. These deliveries should largely be recovered in the fourth quarter. Third quarter segment operating margin was 17.2 percent, and 17.6 percent when adjusted for restructuring costs.
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; modernization products to upgrade elevators and escalators; and maintenance and repair services.
Finally, Shares of Host Hotels and Resorts Inc (NYSE:HST), remained flat at $17.69.
Host Hotels and Resorts trades at 23.65 times forward earnings and is down -24.82% from its peak. The consensus price target is $20.09. The stock was trading at $17.69, up 15.17 percent from 52-week low of $15.36. The P/E ratio stood at 19.23, below a peak of $23.53.
Host Hotels & Resorts, Inc. is a publicly owned real estate investment trust (REIT). The firm primarily engages in the ownership and operation of hotel properties. It invests in the real estate markets of United States. It also invests in Canada, Mexico, Chile, the United Kingdom, Italy, Spain, and Poland.
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