IBM Stock Down, Unveiling ‘Blockchain’ Platform
NEW YORK (TheStreet) -- Shares of IBM (IBM) - Get Report are down 0.26% to $159.87 this afternoon despite launching a new platform for companies to test record-keeping "blockchain" technology in their supply chains, the Wall Street Journal reports.
Blockchain is a crypted data structure that allows users to create and share a digital ledger of transactions safely.
IBM's new service is aimed at customers tracking high-value items, allowing them to test blockchains in a secure cloud using its LinuxOne operating system.
Blockchain technology is currently used in the financial services industry to track financial transactions and to underpin the bitcoin digital currency.
Companies like JPMorgan (JPM) and Bank of America (BAC) are experimenting with the technology, but only a few - including Toyota (TM) - have used it to monitor supply chains.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.
The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and notable return on equity. TheStreet Ratings feels its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.
You can view the full analysis from the report here: IBM
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.