IBM Receives Arrangement Extension and 2 Hot Stocks Not to Overlook

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IBM (NYSE:IBM) and Ameriprise Financial have worked together since 2006 in IT outsourcing. IBM has just announced that it has received a multi-year extension of the arrangement which includes IBM hosting the latter’s PeopleSoft apps on the cloud.

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Walgreen (NYSE:WAG) is looking closely into the prospects of synergy savings arising from its pairing with Alliance Boots. The company estimates that it could save $100-$150 million dollars within the first year of the program which would yield total savings of approximately $ 1 billion.

Brazil’s petroleum regulator has taken up the cudgels on behalf of Transocean (NYSE:RIG) and Chevron (NYSE:CVX), who have been banned from operating in Brazil. Apparently, the ban could severely hamper Brazil’s oil exploration efforts including those of national oil company Petrobras (NYSE:PBR), who plans to drill eight new wells in the huge Marlim oil field.

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