The Dow Jones Industrial Average ( ^DJI) is trading down 47.0 points (-0.4%) at 12,991 as of Monday, May 7, 2012, 10:35 a.m. ET. During this time, 177.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 733.1 million. The NYSE advances/declines ratio sits at 964 issues advancing vs. 1,845 declining with 170 unchanged. Tuesday, May 8, 2012 is the ex-dividend date for Dow component International Business Machines (NYSE: IBM). Owners of shares as of market close today will be eligible for a dividend of 85 cents per share. At a price of $203.60 as of 10:35 a.m. ET, the dividend yield is 1.6% compared to the average Dow component yield of 2.7%.
The average volume for International Business Machines has been four million shares per day over the past 30 days. International Business Machines has a market cap of $239.05 billion and is part of the technology sector and computer hardware industry. Shares are up 11.5% year to date as of Friday's close. International Business Machines Corporation provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. The company has a P/E ratio of 15.5, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated.