NEW YORK (TheStreet) -- Shares of IBM (IBM) are climbing, up 0.84% to $159.01 in midday trading Friday, as the company plans to expand its data centers globally by 25% to feed the rising demand for its Internet-based services.
The company said yesterday that it has enjoyed a "breakthrough year" throughout 2014 in terms of cloud business, which provides storage, flexibility, remote access, and better security, Reuters reported.
Over the past year and a half, IBM has multiplied the number of cloud data facilities by four to 49 total offices, as it responded to laws requiring the local retention of data, as well as to its corporate compliance rules, Reuters added.
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On Wednesday, IBM announced that it reached a deal with data center provider Equinix Inc. for nine cloud centers located in the U.S., the Netherlands, Japan, France, Australia, and Singapore, Reuters noted.
Separately, TheStreet Ratings team rates INTL BUSINESS MACHINES CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTL BUSINESS MACHINES CORP (IBM) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and a generally disappointing performance in the stock itself."