IBM: 3 stocks riding the wave from IBM's earnings disaster

IBM stock suffered its worst one-day decline on record after the technology group admitted that customers were moving money away from its products and towards urgently needed data-centre infrastructure. The stock plunged 25.2% to $217.07 on Tuesday, leaving it just above its 52-week low, after preliminary second-quarter revenue and profit missed Wall Street forecasts. Yet Barclays analyst Saket Kalia sees a potential winner on the other side of that spending shift: network-security companies selling firewalls. As per TipRanks, his industry checks identified Palo Alto Networks, Fortinet and Check Point as potential beneficiaries. Palo Alto Networks offers scale, but little valuation cushion Palo Alto Networks is one of the world's largest firewall providers and gives customers a broad portfolio spanning network,...