IBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock

Marketwatch2021-11-29

A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and ...

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精彩评论

thatsy
2021-11-29
thatsy
Dinosaur company on its death throe
- Decaffed:
  Ok
JonLucky
2021-11-29
JonLucky
Amputated animal limbs wilt and die. But for the plant species, their severed twigs could grow into new trees. We'll have to see what type of species this Kyndryl will be.
- thatsy:
  Rise from the ashes
1ac021c2
2021-11-29
1ac021c2
Hi
- 1ac021c2:
  Hi
lsjk
2021-11-29
lsjk
Nice
TradeLegend
2021-11-29
TradeLegend
🤑
- lsjk:
  ok
- TradeLegend:
  👍
Holla
2021-11-29
Holla
Like pls

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Here’s What Investors Should Do With the Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-29 08:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore>Marketwatch</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and ...\n\n<a href=\"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IBM","symbol_name":"IBM","start_time":0,"source_url":"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore","article_id":"1169118930","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1169118930","pubTimestamp":1638146156,"columns":[],"sourceInfo":{"source_id":"market_watch","name":"华尔街大事件"},"weMediaInfo":null,"summary":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-marg","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IBM":"IBM","KD":"Kyndryl"},"translate_title":"IBM抛弃了Kyndryl。以下是投资者对股票应该做的事情","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IBM":0.9,"KD":0.9},"content_text":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.\nThat’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.\nKyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).\nIBM stockholders got one share of Kyndryl for every five IBM shares held.\nKyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.\nBut Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.\nAt a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.\nBut there are reasons that IBM investors—and others—are shunning the spun-off stock. 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They don’t need to hold Kyndryl stock.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[{"id":600629240,"gmtCreate":1638148560242,"gmtModify":1638148560393,"author":{"id":"3553846715363515","authorId":"3553846715363515","name":"thatsy","avatar":"https://static.tigerbbs.com/f26fbbdbb8bc4a4041112e5874d1041e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3553846715363515","authorIdStr":"3553846715363515"},"htmlText":"Dinosaur company on its death throe","listText":"Dinosaur company on its death throe","text":"Dinosaur company on its death throe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600629240","repostId":1169118930,"repostType":4,"repost":{"id":"1169118930","kind":"news","pubTimestamp":1638146156,"share":"https://www.laohu8.com/m/news/1169118930?lang=zh_CN&edition=full","pubTime":"2021-11-29 08:35","market":"us","language":"en","title":"IBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169118930","media":"Marketwatch","summary":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-marg","content":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.<blockquote>IBM扭亏为盈的故事的一个关键部分是在11月初写的：将公司低利润、负增长的信息技术服务业务打包，给它起一个听起来很酷的名字，并将其从损益表中删除。</blockquote> That’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.<blockquote>Kyndryl Holdings（股票代码：KD）就是这样诞生的。这家新/老公司是IT托管服务业务的领先企业，为4,000多家客户运营数据中心和其他IT运营。</blockquote> Kyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).<blockquote>Kyndryl拥有90,000名员工，在该行业占据主导地位。根据Kyndryl的分拆文件，该公司2020年的预计收入为191亿美元，约为竞争对手DXC Technology(DXC)的两倍。它比Atos(ATO.France)、HCL Technologies(532281.India)、Tata Consultancy Services(532540.India)和Cognizant(CTSH)等同行更具优势。</blockquote> IBM stockholders got one share of Kyndryl for every five IBM shares held.<blockquote>IBM股东每持有五股IBM股票即可获得一股Kyndryl股票。</blockquote> Kyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.<blockquote>Kyndryl首席执行官Martin Schroeter最近告诉《巴伦周刊》，他将该公司视为一家“价值190亿美元的初创公司”，该公司正在重新配置其业务，以适应越来越多的IT工作负载从数据中心转移到云的世界。他表示，分拆将使公司重新定位增长，利用并购和内部发展来调整其业务组合。</blockquote> But Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.<blockquote>但Kyndryl很难找到自己的独立投资者基础。10月下旬，该股“发行时”交易价格高于40美元。Kyndryl于11月4日开盘价为28.41美元，此后持续下跌。</blockquote> At a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&amp;P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.<blockquote>以最近17.30美元的价格计算，Kyndryl的市值仅为39亿美元。净债务为12亿美元，其企业价值达到51亿美元。这使得该公司的企业价值与销售额的倍数小于0.3。标普500指数中只有四家公司的市盈率低于这一数字。DXC的交易价格约为2022年3月财年预计收入的0.7倍。</blockquote> But there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&amp;P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.<blockquote>但IBM投资者和其他人回避分拆股票是有原因的。一方面，IBM对投资者的吸引力部分在于其5.6%的股息收益率，这是道琼斯工业平均指数中最高的公司，也是标普500中最高的公司之一。任何为了收益而持有IBM的人都对Kyndryl股票不感兴趣。</blockquote> Another issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.<blockquote>另一个问题是：Kyndryl预计在2025年之前不会出现增长。该公司预计2021年收入为185亿美元至187亿美元；按中点计算，较2020年水平下降2.6%。Kyndryl预计调整后息税折旧摊销前利润(Ebitda)为28亿至29亿美元。</blockquote> For investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.<blockquote>对于投资者来说，在没有股息收益率的情况下，几乎没有动力拥有一家萎缩的IT服务公司。除了私募股权收购（即在公开市场看不到的情况下改造公司）之外，Kyndryl股票的近期催化剂很少。</blockquote> IBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.<blockquote>IBM股东从该公司的核心业务中获得了很大的潜在收益。他们不需要持有Kyndryl股票。</blockquote>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IBM Cast Off Kyndryl. 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Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketwatch2021-11-29 08:35\n\n</h4>\n</header>\n<article>\nA key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.<blockquote>IBM扭亏为盈的故事的一个关键部分是在11月初写的：将公司低利润、负增长的信息技术服务业务打包，给它起一个听起来很酷的名字，并将其从损益表中删除。</blockquote> That’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.<blockquote>Kyndryl Holdings（股票代码：KD）就是这样诞生的。这家新/老公司是IT托管服务业务的领先企业，为4,000多家客户运营数据中心和其他IT运营。</blockquote> Kyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).<blockquote>Kyndryl拥有90,000名员工，在该行业占据主导地位。根据Kyndryl的分拆文件，该公司2020年的预计收入为191亿美元，约为竞争对手DXC Technology(DXC)的两倍。它比Atos(ATO.France)、HCL Technologies(532281.India)、Tata Consultancy Services(532540.India)和Cognizant(CTSH)等同行更具优势。</blockquote> IBM stockholders got one share of Kyndryl for every five IBM shares held.<blockquote>IBM股东每持有五股IBM股票即可获得一股Kyndryl股票。</blockquote> Kyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.<blockquote>Kyndryl首席执行官Martin Schroeter最近告诉《巴伦周刊》，他将该公司视为一家“价值190亿美元的初创公司”，该公司正在重新配置其业务，以适应越来越多的IT工作负载从数据中心转移到云的世界。他表示，分拆将使公司重新定位增长，利用并购和内部发展来调整其业务组合。</blockquote> But Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.<blockquote>但Kyndryl很难找到自己的独立投资者基础。10月下旬，该股“发行时”交易价格高于40美元。Kyndryl于11月4日开盘价为28.41美元，此后持续下跌。</blockquote> At a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&amp;P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.<blockquote>以最近17.30美元的价格计算，Kyndryl的市值仅为39亿美元。净债务为12亿美元，其企业价值达到51亿美元。这使得该公司的企业价值与销售额的倍数小于0.3。标普500指数中只有四家公司的市盈率低于这一数字。DXC的交易价格约为2022年3月财年预计收入的0.7倍。</blockquote> But there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&amp;P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.<blockquote>但IBM投资者和其他人回避分拆股票是有原因的。一方面，IBM对投资者的吸引力部分在于其5.6%的股息收益率，这是道琼斯工业平均指数中最高的公司，也是标普500中最高的公司之一。任何为了收益而持有IBM的人都对Kyndryl股票不感兴趣。</blockquote> Another issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.<blockquote>另一个问题是：Kyndryl预计在2025年之前不会出现增长。该公司预计2021年收入为185亿美元至187亿美元；按中点计算，较2020年水平下降2.6%。Kyndryl预计调整后息税折旧摊销前利润(Ebitda)为28亿至29亿美元。</blockquote> For investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.<blockquote>对于投资者来说，在没有股息收益率的情况下，几乎没有动力拥有一家萎缩的IT服务公司。除了私募股权收购（即在公开市场看不到的情况下改造公司）之外，Kyndryl股票的近期催化剂很少。</blockquote> IBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.<blockquote>IBM股东从该公司的核心业务中获得了很大的潜在收益。他们不需要持有Kyndryl股票。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore\">Marketwatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM","KD":"Kyndryl"},"source_url":"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169118930","content_text":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.\nThat’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.\nKyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).\nIBM stockholders got one share of Kyndryl for every five IBM shares held.\nKyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.\nBut Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.\nAt a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.\nBut there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.\nAnother issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.\nFor investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.\nIBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.","news_type":1,"symbols_score_info":{"IBM":0.9,"KD":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6764348,"gmtCreate":1638150910351,"gmtModify":1638150910381,"authorId":3579499629384357,"author":{"id":3579499629384357,"idStr":"3579499629384357","authorId":3579499629384357,"name":"Decaffed","avatar":"https://static.tigerbbs.com/233f0ca062b0a4857cce119c33bc9a64","vip":1,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[]},"repliedAuthorId":0,"objectId":600629240,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"CN"},{"id":600620241,"gmtCreate":1638148487524,"gmtModify":1638148487914,"author":{"id":"3573703375513385","authorId":"3573703375513385","name":"JonLucky","avatar":"https://static.tigerbbs.com/15afb66e92e4e4d6d1a8e9b7854e9d5e","vip":1,"crmLevel":12,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3573703375513385","authorIdStr":"3573703375513385"},"htmlText":"Amputated animal limbs wilt and die. But for the plant species, their severed twigs could grow into new trees. We'll have to see what type of species this Kyndryl will be.&nbsp;","listText":"Amputated animal limbs wilt and die. But for the plant species, their severed twigs could grow into new trees. We'll have to see what type of species this Kyndryl will be.&nbsp;","text":"Amputated animal limbs wilt and die. But for the plant species, their severed twigs could grow into new trees. We'll have to see what type of species this Kyndryl will be.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600620241","repostId":1169118930,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6763714,"gmtCreate":1638148583994,"gmtModify":1638148584096,"authorId":3553846715363515,"author":{"id":3553846715363515,"idStr":"3553846715363515","authorId":3553846715363515,"name":"thatsy","avatar":"https://static.tigerbbs.com/f26fbbdbb8bc4a4041112e5874d1041e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[]},"repliedAuthorId":0,"objectId":600620241,"type":1,"supId":0,"prevId":0,"content":"Rise from the ashes","text":"Rise from the ashes","html":"Rise from the ashes"}],"langContent":"CN"},{"id":600620862,"gmtCreate":1638148478867,"gmtModify":1638148479035,"author":{"id":"3582590497464602","authorId":"3582590497464602","name":"1ac021c2","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3582590497464602","authorIdStr":"3582590497464602"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600620862","repostId":1169118930,"repostType":4,"repost":{"id":"1169118930","kind":"news","pubTimestamp":1638146156,"share":"https://www.laohu8.com/m/news/1169118930?lang=zh_CN&edition=full","pubTime":"2021-11-29 08:35","market":"us","language":"en","title":"IBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169118930","media":"Marketwatch","summary":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-marg","content":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.<blockquote>IBM扭亏为盈的故事的一个关键部分是在11月初写的：将公司低利润、负增长的信息技术服务业务打包，给它起一个听起来很酷的名字，并将其从损益表中删除。</blockquote> That’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.<blockquote>Kyndryl Holdings（股票代码：KD）就是这样诞生的。这家新/老公司是IT托管服务业务的领先企业，为4,000多家客户运营数据中心和其他IT运营。</blockquote> Kyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).<blockquote>Kyndryl拥有90,000名员工，在该行业占据主导地位。根据Kyndryl的分拆文件，该公司2020年的预计收入为191亿美元，约为竞争对手DXC Technology(DXC)的两倍。它比Atos(ATO.France)、HCL Technologies(532281.India)、Tata Consultancy Services(532540.India)和Cognizant(CTSH)等同行更具优势。</blockquote> IBM stockholders got one share of Kyndryl for every five IBM shares held.<blockquote>IBM股东每持有五股IBM股票即可获得一股Kyndryl股票。</blockquote> Kyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.<blockquote>Kyndryl首席执行官Martin Schroeter最近告诉《巴伦周刊》，他将该公司视为一家“价值190亿美元的初创公司”，该公司正在重新配置其业务，以适应越来越多的IT工作负载从数据中心转移到云的世界。他表示，分拆将使公司重新定位增长，利用并购和内部发展来调整其业务组合。</blockquote> But Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.<blockquote>但Kyndryl很难找到自己的独立投资者基础。10月下旬，该股“发行时”交易价格高于40美元。Kyndryl于11月4日开盘价为28.41美元，此后持续下跌。</blockquote> At a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&amp;P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.<blockquote>以最近17.30美元的价格计算，Kyndryl的市值仅为39亿美元。净债务为12亿美元，其企业价值达到51亿美元。这使得该公司的企业价值与销售额的倍数小于0.3。标普500指数中只有四家公司的市盈率低于这一数字。DXC的交易价格约为2022年3月财年预计收入的0.7倍。</blockquote> But there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&amp;P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.<blockquote>但IBM投资者和其他人回避分拆股票是有原因的。一方面，IBM对投资者的吸引力部分在于其5.6%的股息收益率，这是道琼斯工业平均指数中最高的公司，也是标普500中最高的公司之一。任何为了收益而持有IBM的人都对Kyndryl股票不感兴趣。</blockquote> Another issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.<blockquote>另一个问题是：Kyndryl预计在2025年之前不会出现增长。该公司预计2021年收入为185亿美元至187亿美元；按中点计算，较2020年水平下降2.6%。Kyndryl预计调整后息税折旧摊销前利润(Ebitda)为28亿至29亿美元。</blockquote> For investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.<blockquote>对于投资者来说，在没有股息收益率的情况下，几乎没有动力拥有一家萎缩的IT服务公司。除了私募股权收购（即在公开市场看不到的情况下改造公司）之外，Kyndryl股票的近期催化剂很少。</blockquote> IBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.<blockquote>IBM股东从该公司的核心业务中获得了很大的潜在收益。他们不需要持有Kyndryl股票。</blockquote>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketwatch2021-11-29 08:35\n\n</h4>\n</header>\n<article>\nA key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.<blockquote>IBM扭亏为盈的故事的一个关键部分是在11月初写的：将公司低利润、负增长的信息技术服务业务打包，给它起一个听起来很酷的名字，并将其从损益表中删除。</blockquote> That’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.<blockquote>Kyndryl Holdings（股票代码：KD）就是这样诞生的。这家新/老公司是IT托管服务业务的领先企业，为4,000多家客户运营数据中心和其他IT运营。</blockquote> Kyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).<blockquote>Kyndryl拥有90,000名员工，在该行业占据主导地位。根据Kyndryl的分拆文件，该公司2020年的预计收入为191亿美元，约为竞争对手DXC Technology(DXC)的两倍。它比Atos(ATO.France)、HCL Technologies(532281.India)、Tata Consultancy Services(532540.India)和Cognizant(CTSH)等同行更具优势。</blockquote> IBM stockholders got one share of Kyndryl for every five IBM shares held.<blockquote>IBM股东每持有五股IBM股票即可获得一股Kyndryl股票。</blockquote> Kyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.<blockquote>Kyndryl首席执行官Martin Schroeter最近告诉《巴伦周刊》，他将该公司视为一家“价值190亿美元的初创公司”，该公司正在重新配置其业务，以适应越来越多的IT工作负载从数据中心转移到云的世界。他表示，分拆将使公司重新定位增长，利用并购和内部发展来调整其业务组合。</blockquote> But Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.<blockquote>但Kyndryl很难找到自己的独立投资者基础。10月下旬，该股“发行时”交易价格高于40美元。Kyndryl于11月4日开盘价为28.41美元，此后持续下跌。</blockquote> At a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&amp;P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.<blockquote>以最近17.30美元的价格计算，Kyndryl的市值仅为39亿美元。净债务为12亿美元，其企业价值达到51亿美元。这使得该公司的企业价值与销售额的倍数小于0.3。标普500指数中只有四家公司的市盈率低于这一数字。DXC的交易价格约为2022年3月财年预计收入的0.7倍。</blockquote> But there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&amp;P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.<blockquote>但IBM投资者和其他人回避分拆股票是有原因的。一方面，IBM对投资者的吸引力部分在于其5.6%的股息收益率，这是道琼斯工业平均指数中最高的公司，也是标普500中最高的公司之一。任何为了收益而持有IBM的人都对Kyndryl股票不感兴趣。</blockquote> Another issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.<blockquote>另一个问题是：Kyndryl预计在2025年之前不会出现增长。该公司预计2021年收入为185亿美元至187亿美元；按中点计算，较2020年水平下降2.6%。Kyndryl预计调整后息税折旧摊销前利润(Ebitda)为28亿至29亿美元。</blockquote> For investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.<blockquote>对于投资者来说，在没有股息收益率的情况下，几乎没有动力拥有一家萎缩的IT服务公司。除了私募股权收购（即在公开市场看不到的情况下改造公司）之外，Kyndryl股票的近期催化剂很少。</blockquote> IBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.<blockquote>IBM股东从该公司的核心业务中获得了很大的潜在收益。他们不需要持有Kyndryl股票。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore\">Marketwatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM","KD":"Kyndryl"},"source_url":"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169118930","content_text":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.\nThat’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.\nKyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).\nIBM stockholders got one share of Kyndryl for every five IBM shares held.\nKyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.\nBut Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.\nAt a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.\nBut there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.\nAnother issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.\nFor investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.\nIBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.","news_type":1,"symbols_score_info":{"IBM":0.9,"KD":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6763687,"gmtCreate":1638148483233,"gmtModify":1638148483258,"authorId":3582590497464602,"author":{"id":3582590497464602,"idStr":"3582590497464602","authorId":3582590497464602,"name":"1ac021c2","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[]},"repliedAuthorId":0,"objectId":600620862,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"CN"},{"id":600667403,"gmtCreate":1638148424446,"gmtModify":1638148424555,"author":{"id":"3563514600747173","authorId":"3563514600747173","name":"lsjk","avatar":"https://static.tigerbbs.com/57aefc7054f306185d8245450fb7b752","vip":1,"crmLevel":4,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3563514600747173","authorIdStr":"3563514600747173"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600667403","repostId":1169118930,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":600664647,"gmtCreate":1638148320752,"gmtModify":1638148320817,"author":{"id":"3565930395680990","authorId":"3565930395680990","name":"TradeLegend","avatar":"https://static.tigerbbs.com/efcf72a8fc8d429f1da25c34e3db472a","vip":1,"crmLevel":11,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3565930395680990","authorIdStr":"3565930395680990"},"htmlText":"🤑","listText":"🤑","text":"🤑","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/600664647","repostId":1169118930,"repostType":4,"repost":{"id":"1169118930","kind":"news","pubTimestamp":1638146156,"share":"https://www.laohu8.com/m/news/1169118930?lang=zh_CN&edition=full","pubTime":"2021-11-29 08:35","market":"us","language":"en","title":"IBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169118930","media":"Marketwatch","summary":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-marg","content":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.<blockquote>IBM扭亏为盈的故事的一个关键部分是在11月初写的：将公司低利润、负增长的信息技术服务业务打包，给它起一个听起来很酷的名字，并将其从损益表中删除。</blockquote> That’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.<blockquote>Kyndryl Holdings（股票代码：KD）就是这样诞生的。这家新/老公司是IT托管服务业务的领先企业，为4,000多家客户运营数据中心和其他IT运营。</blockquote> Kyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).<blockquote>Kyndryl拥有90,000名员工，在该行业占据主导地位。根据Kyndryl的分拆文件，该公司2020年的预计收入为191亿美元，约为竞争对手DXC Technology(DXC)的两倍。它比Atos(ATO.France)、HCL Technologies(532281.India)、Tata Consultancy Services(532540.India)和Cognizant(CTSH)等同行更具优势。</blockquote> IBM stockholders got one share of Kyndryl for every five IBM shares held.<blockquote>IBM股东每持有五股IBM股票即可获得一股Kyndryl股票。</blockquote> Kyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.<blockquote>Kyndryl首席执行官Martin Schroeter最近告诉《巴伦周刊》，他将该公司视为一家“价值190亿美元的初创公司”，该公司正在重新配置其业务，以适应越来越多的IT工作负载从数据中心转移到云的世界。他表示，分拆将使公司重新定位增长，利用并购和内部发展来调整其业务组合。</blockquote> But Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.<blockquote>但Kyndryl很难找到自己的独立投资者基础。10月下旬，该股“发行时”交易价格高于40美元。Kyndryl于11月4日开盘价为28.41美元，此后持续下跌。</blockquote> At a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&amp;P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.<blockquote>以最近17.30美元的价格计算，Kyndryl的市值仅为39亿美元。净债务为12亿美元，其企业价值达到51亿美元。这使得该公司的企业价值与销售额的倍数小于0.3。标普500指数中只有四家公司的市盈率低于这一数字。DXC的交易价格约为2022年3月财年预计收入的0.7倍。</blockquote> But there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&amp;P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.<blockquote>但IBM投资者和其他人回避分拆股票是有原因的。一方面，IBM对投资者的吸引力部分在于其5.6%的股息收益率，这是道琼斯工业平均指数中最高的公司，也是标普500中最高的公司之一。任何为了收益而持有IBM的人都对Kyndryl股票不感兴趣。</blockquote> Another issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.<blockquote>另一个问题是：Kyndryl预计在2025年之前不会出现增长。该公司预计2021年收入为185亿美元至187亿美元；按中点计算，较2020年水平下降2.6%。Kyndryl预计调整后息税折旧摊销前利润(Ebitda)为28亿至29亿美元。</blockquote> For investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.<blockquote>对于投资者来说，在没有股息收益率的情况下，几乎没有动力拥有一家萎缩的IT服务公司。除了私募股权收购（即在公开市场看不到的情况下改造公司）之外，Kyndryl股票的近期催化剂很少。</blockquote> IBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.<blockquote>IBM股东从该公司的核心业务中获得了很大的潜在收益。他们不需要持有Kyndryl股票。</blockquote>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIBM Cast Off Kyndryl. Here’s What Investors Should Do With the Stock<blockquote>IBM放弃了Kyndryl。以下是投资者应该如何处理该股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketwatch2021-11-29 08:35\n\n</h4>\n</header>\n<article>\nA key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.<blockquote>IBM扭亏为盈的故事的一个关键部分是在11月初写的：将公司低利润、负增长的信息技术服务业务打包，给它起一个听起来很酷的名字，并将其从损益表中删除。</blockquote> That’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.<blockquote>Kyndryl Holdings（股票代码：KD）就是这样诞生的。这家新/老公司是IT托管服务业务的领先企业，为4,000多家客户运营数据中心和其他IT运营。</blockquote> Kyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).<blockquote>Kyndryl拥有90,000名员工，在该行业占据主导地位。根据Kyndryl的分拆文件，该公司2020年的预计收入为191亿美元，约为竞争对手DXC Technology(DXC)的两倍。它比Atos(ATO.France)、HCL Technologies(532281.India)、Tata Consultancy Services(532540.India)和Cognizant(CTSH)等同行更具优势。</blockquote> IBM stockholders got one share of Kyndryl for every five IBM shares held.<blockquote>IBM股东每持有五股IBM股票即可获得一股Kyndryl股票。</blockquote> Kyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.<blockquote>Kyndryl首席执行官Martin Schroeter最近告诉《巴伦周刊》，他将该公司视为一家“价值190亿美元的初创公司”，该公司正在重新配置其业务，以适应越来越多的IT工作负载从数据中心转移到云的世界。他表示，分拆将使公司重新定位增长，利用并购和内部发展来调整其业务组合。</blockquote> But Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.<blockquote>但Kyndryl很难找到自己的独立投资者基础。10月下旬，该股“发行时”交易价格高于40美元。Kyndryl于11月4日开盘价为28.41美元，此后持续下跌。</blockquote> At a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&amp;P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.<blockquote>以最近17.30美元的价格计算，Kyndryl的市值仅为39亿美元。净债务为12亿美元，其企业价值达到51亿美元。这使得该公司的企业价值与销售额的倍数小于0.3。标普500指数中只有四家公司的市盈率低于这一数字。DXC的交易价格约为2022年3月财年预计收入的0.7倍。</blockquote> But there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&amp;P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.<blockquote>但IBM投资者和其他人回避分拆股票是有原因的。一方面，IBM对投资者的吸引力部分在于其5.6%的股息收益率，这是道琼斯工业平均指数中最高的公司，也是标普500中最高的公司之一。任何为了收益而持有IBM的人都对Kyndryl股票不感兴趣。</blockquote> Another issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.<blockquote>另一个问题是：Kyndryl预计在2025年之前不会出现增长。该公司预计2021年收入为185亿美元至187亿美元；按中点计算，较2020年水平下降2.6%。Kyndryl预计调整后息税折旧摊销前利润(Ebitda)为28亿至29亿美元。</blockquote> For investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.<blockquote>对于投资者来说，在没有股息收益率的情况下，几乎没有动力拥有一家萎缩的IT服务公司。除了私募股权收购（即在公开市场看不到的情况下改造公司）之外，Kyndryl股票的近期催化剂很少。</blockquote> IBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.<blockquote>IBM股东从该公司的核心业务中获得了很大的潜在收益。他们不需要持有Kyndryl股票。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore\">Marketwatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM","KD":"Kyndryl"},"source_url":"https://www.marketwatch.com/articles/ibm-kyndryl-stock-what-to-do-51637798963?mod=newsviewer_click_seemore","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169118930","content_text":"A key part of IBM’s turnaround story was written in early November: packaging the company’s low-margin, negative-growth information-technology services business, giving it a cool-sounding name, and getting it off the income statement.\nThat’s how Kyndryl Holdings (ticker: KD) was born. The new/old company is a leading player in the IT managed services business, running data centers and other IT operations for more than 4,000 customers.\nKyndryl has 90,000 employees and dominates the sector. The company had $19.1 billion in revenue, on a pro forma basis, in 2020, about twice as much as rival DXC Technology (DXC), according to Kyndryl’s spinoff documents. It has an even bigger edge on peers such as Atos (ATO.France), HCL Technologies (532281.India), Tata Consultancy Services (532540.India), and Cognizant (CTSH).\nIBM stockholders got one share of Kyndryl for every five IBM shares held.\nKyndryl CEO Martin Schroeter recently told Barron’s that he views the company as a “$19 billion start-up,” which is reconfiguring its business for a world in which more and more IT workloads are shifting to the cloud and away from data centers. He says the spinoff will let the company reposition itself for growth, using mergers and acquisitions and internal development to adjust its business mix.\nBut Kyndryl is having trouble finding its own independent investor base. In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41, and has continued to fall from there.\nAt a recent price of $17.30, Kyndryl has a market cap of just $3.9 billion. With $1.2 billion in net debt, its enterprise value comes to $5.1 billion. That gives the company an enterprise value to sales multiple of less than 0.3. There are just four companies in the S&P 500 index with a multiple lower than that. DXC trades for about 0.7 times projected revenue for its March 2022 fiscal year.\nBut there are reasons that IBM investors—and others—are shunning the spun-off stock. For one thing, IBM has been attractive to investors in part for its 5.6% dividend yield, the highest of any company in the Dow Jones Industrial Average, and one of the highest in the S&P 500. Anyone who owns IBM for the yield isn’t interested in Kyndryl stock.\nAnother issue: Kyndryl doesn’t expect to show growth before 2025. The company projects 2021 revenue of $18.5 billion to $18.7 billion; at the midpoint, that’s a 2.6% decline from 2020’s level. Kyndryl sees adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $2.8 billion to $2.9 billion.\nFor investors, there’s little incentive to own a shrinking IT services company without a dividend yield. Short of a private-equity buyout—with the idea of revamping the company out of sight of the public markets—there are few near-term catalysts for Kyndryl stock.\nIBM shareholders have plenty of potential upside from that company’s core business. They don’t need to hold Kyndryl stock.","news_type":1,"symbols_score_info":{"IBM":0.9,"KD":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6763661,"gmtCreate":1638148419931,"gmtModify":1638148419963,"authorId":3563514600747173,"author":{"id":3563514600747173,"idStr":"3563514600747173","authorId":3563514600747173,"name":"lsjk","avatar":"https://static.tigerbbs.com/57aefc7054f306185d8245450fb7b752","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[]},"repliedAuthorId":0,"objectId":600664647,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"},{"id":6763638,"gmtCreate":1638148326689,"gmtModify":1638148326714,"authorId":3565930395680990,"author":{"id":3565930395680990,"idStr":"3565930395680990","authorId":3565930395680990,"name":"TradeLegend","avatar":"https://static.tigerbbs.com/efcf72a8fc8d429f1da25c34e3db472a","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[]},"repliedAuthorId":0,"objectId":600664647,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"}],"langContent":"CN"},{"id":600661182,"gmtCreate":1638148036320,"gmtModify":1638148036633,"author":{"id":"3565687171198207","authorId":"3565687171198207","name":"Holla","avatar":"https://static.tigerbbs.com/c0b0e402ff8043410cc67ffccbfe2174","vip":1,"crmLevel":11,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3565687171198207","authorIdStr":"3565687171198207"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600661182","repostId":1169118930,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":145,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1169118930","isCrawlerRequest":true}