IBM Partners with Philippines Bank for IT Services and 2 Other Dow Movers to Watch
International Business Machines Corp. (NYSE:IBM): Current price $196.04
Bank of the Philippine Islands and IBM signed a strategic partnership accord through which to outsource the bank’s existing information technology infrastructure services to IBM. IBM will take over the company’s IT network and data center activities, permitting its information systems team to better focus on the bank’s strategic initiatives. This relationship will help Bank of the Philippine Islands concentrate on more strategic business areas while IBM manages its daily IT operations.
E.I. du Pont de Nemours and Co. (NYSE:DD): Current price $58.60
Following a struggle with South African regulators lasting almost three years, DuPont Co. said it finalized its acquisition of a majority interest in South Africa’s Pannar Seed Ltd. The purchase greatly enlarges DuPont’s access to new markets and will help it reinforce research efforts and seed availability for African farmers. DuPont’s Pioneer subsidiary is the No. 2 seed company in the United States after Monsanto Co. and now takes control of an 80 percent stake in Pannar Seed, a 55-year-old company with operations spanning Africa and other parts of the world. Financials of the transaction were not disclosed.
Merck & Co. Inc. (NYSE:MRK): Current price $48.49
This year, Merck and Her Campus, an online community for women in college, are collaborating to create Pledge to Plan It Forward, which supplies resources to college-age young women to help them better plan for their futures. By taking part, women can also show their backing for She’s the First, a nonprofit organization that sponsors girls’ education in the developing world and promotes leadership in young adults in America.