IBM Snaps Up SoftLayer Technologies and 2 Other Dow Movers to Watch
International Business Machines Corporation (NYSE: IBM): Current price $206.81
On Tuesday, IBM said it would purchase SoftLayer Technologies, which is the biggest privately-held cloud computing infrastructure provider in the world. The acquisition will reinforce IBM’s leadership position in cloud computing and will also help quicken business adoption of public and private cloud solutions. IBM is buying SoftLayer to facilitate clients on a global basis incorporating cloud computing, by joining the speed and simplicity of SoftLayer’s public cloud services with the enterprise grade reliability, security and openness of the IBM SmartCloud portfolio. Financials of the transaction were not reported.
Chevron Corporation (NYSE:CVX): Current price $122.78
Angola’s long-delayed liquefied natural gas plant has begun output, and the first cargo should be exported later in June, according to Chief Executive Philippe Sauquet of Total Gas and Power to Reuters. Sauquet also remarked that “we have LNG flowing into the tanks at our Angola LNG plant, and we expect the first cargo in June.” Chevron operates the project with a 36.4-percent shareholding, while Sonangol holds a 22.8-percent interest. The facility suffered a setback in April, following a fire just hours before production was set to commence.
Hewlett-Packard Co. (NYSE: HPQ): Current price $24.76
HP and First Data Corporation announced Tuesday that HP Converged Infrastructure will be the foundation for First Data’s VisionPLUS Flex solution, which permits financial institutions to cost-effectively process payment portfolios of as many as 10 million accounts. VisionPLUS Flex lets financial institutions issue and process credit, debit, commercial and prepaid cards, along with addressing closed-end loan account processing on a single platform. Through this partnership, First Data is now providing VisionPLUS Flex in an appliance delivery model.