Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 5, 2021

Article Excerpt

INTERNATIONAL BUSINESS MACHINES CORP., $123.61, New York symbol IBM, remains a buy. IBM is one of the world’s largest computer companies, with operations in over 175 countries. The company has now completed the spinoff of the Managed Infrastructure Services unit of its Global Technology Services operations. That legacy business helps corporate and government clients manage their datacentres. The new firm is called KYNDRYL HOLDINGS INC., $24.25, New York symbol KD. Investors received one Kyndryl share for every five IBM shares they held. They are not liable for capital gains taxes until they sell their new Kyndryl shares. IBM still holds 19.9% of Kyndryl’s shares. It plans to dispose of them within the next 12 months. The split will let IBM focus on its faster-growing cloud computing and analytics software operations. Kyndryl should also benefit, as it can now provide services using a variety of hardware suppliers in addition to IBM. Demand for its services should also improve as more businesses collect, store and analyze a wider array…