International Business Machines (NYSE:IBM) Launches Its Blockchain-Based Asset Custody System- Western Digital (NASDAQ:WDC)

International Business Machines Corporation (NYSE:IBM) [Trend Analysis] tries to capture market sentiments, shares surged 0.13% to $165.73. Postal Savings Bank of China (PSBC) reported that it launched its blockchain-based asset custody system. As part of its work, the bank has also successfully executed more than 100 real business transactions on the blockchain since the system went live in October 2016. PSBC worked with IBM (NYSE:IBM) and used the Hyperledger Fabric to create the first deployment in China to apply blockchain technology to asset custody in the financial industry.

As one of China’s leading retail banks, PSBC pays attention to the technology innovation to speed its research in advanced financial products, technologies, processes and business applications.

As part of these efforts, the bank worked with IBM to develop an asset custody system built on the Hyperledger Fabric. Upon completion of a Design Thinking workshop and joint development work with IBM, the bank embarked on a two-month trial operation, during which it completed over one hundred asset custody transactions involving buying and selling bonds. During the trial, the system demonstrated blockchain’s ability to help streamline the traditionally complex credit verification process and manage risk, helping financial institutions operate more securely and efficiently.

When calculating EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at -12.80%. Investors looking further ahead will note that the Price to next year’s EPS is 3.13%. (What Market Forces Produce Volatility in NYSE:IBM Share? Find Free Report Here)

As for as concerns shares volumes, in share of capital International Business Machines Corporation (NYSE:IBM) has 954.00 million outstanding shares among them 948.81 million shares have been floated in market exchange. IBM institutional ownership remained 59.20% while insider ownership included 0.05%. The firm attains analyst recommendation of 2.80 with week’s performance of -1.00%

Western Digital Corporation (NASDAQ:WDC) [Trend Analysis] shows fluctuation in active trade, on Wednesday shares build up 1.40% to $71.83.

The 52-week high of the share price is -0.64% and 52-week low of the share price is 110.94%. Current stock price is in the upbeat territory taking into account of 20 days moving average with 4.30% and continued bullish run for 50 days moving average with 12.91%.

Moving toward technical analysis, the current ratio, or the liquidity ratio of a company was calculated 2.30 as compared to its debt to equity ratio stands at 1.22. To take look on ration of tradable shares being shorted in market, float short ration was 3.60%, as compared to sentiment indicator; Short Ratio was 2.34. Taking notice in average true range, it was 2.10.

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About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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