International Business Machines (IBM) News Today

International Business Machines Corporation (NYSE: IBM) shares are getting a lift from a pair of upbeat catalysts: a new five-year global technology modernization agreement with Abertis and renewed excitement around quantum computing after the U.S. government announced roughly $2 billion in planned funding for the sector.

• Positive Sentiment: IBM announced a five-year modernization deal with Abertis that will expand its consulting business and help modernize systems handling millions of daily transactions, boosting expectations for higher services revenue. IBM and Abertis are Driving the Future of Mobility with a Global Technology Modernization Agreement
• Positive Sentiment: IBM is benefiting from the U.S. quantum funding push, which put the company on investors’ radar as one of the larger, more established names likely to gain from government-backed investment in quantum computing. Why IBM, GFS, QBTS, and RGTI Made the U.S. $2 Billion Quantum Funding List
• Neutral Sentiment: Recent commentary from Jim Cramer and other analysts argues IBM should be performing better, reinforcing the view that the stock has been under pressure but still has longer-term upside if execution improves. Jim Cramer Reveals Why International Business Machines (IBM) Should Be Doing Better
• Neutral Sentiment: IBM’s decision to wind down its Russia business is a strategic cleanup move, but it is not likely to be a major near-term stock driver. More than 100 days into Ukraine war, IBM winds down Russia business

Overall, IBM appears to be rising on optimism tied to new enterprise deal flow and the possibility that it could be a meaningful beneficiary of government support for quantum computing.