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LendingTree Further Bolsters Leadership Team with Addition of Two Executives



LendingTree®, Inc., the nation’s leading financial services marketplace, has announced the appointment of two seasoned executives to further bolster its leadership team. Scott Totman has been named the company’s Chief Technology Officer and Lisa Young joins the company as General Counsel.  Both executives have extensive experience in the financial services and fintech industries.

Scott Totman joins LendingTree from OnDeck, a small business lender on the LendingTree Network, where he served as Chief Product and Technology Officer. Priot to Ondeck, Totman served as the Head of Product and Engineering at cloud security startup Divvycloud.  Before joining Divvycloud, he led Digital Product Engineering at Capital One, where his teams built Capital One’s web presence and award winning mobile applications.  Earlier in his career, Totman was the Chief Technology Officer of a mobile-focused startup and held senior leadership roles at AOL.

“Product and technology are of paramount importance to the future of LendingTree and solidifying our company as a leader in the fintech industry,” said Doug Lebda, founder and CEO of LendingTree.  “The experience Scott brings will play a key role in helping us align our technology and engineering resources against our strategic initiatives. Scott’s technical background, intimate knowledge of our business, and leadership experience is exactly what we need to catapult LendingTree to the next phase in our evolution.”

“I’m thrilled to join such a talented team and to be part of the organization behind LendingTree’s strong brand name,” said Totman. “Helping consumers make well-informed financial decisions and helping them save money is a truly rewarding endeavor, especially given the challenges consumers face today. I’m excited to further advance LendingTree’s technology and engineering capabilities to enable us to serve as consumers’ go-to guide for every financial decision they face.”

Lisa Young, LendingTree’s new General Counsel, previously served as EVP, General Counsel at Axiom, where she was responsible for global legal affairs and led the spinoffs of two of Axiom’s businesses and subsequent acquisition. Prior to her time at Axiom, Young served as General Counsel at Enova, the parent company of several lenders on the LendingTree network, where she oversaw global legal affairs, and as Assistant General Counsel at JPMorgan Chase.

“Lisa’s legal strengths and experience in the fintech industry are individually impressive, but together make her an ideal fit for our company,” said Doug Lebda, founder and CEO of LendingTree. “Her passion for working for innovative and disruptive companies along with her reputation for being a strong business partner will help to elevate LendingTree’s legal function to have a more active role in our business. I’m confident she will be a great addition to our leadership team.”

“I am thrilled to join LendingTree at this important time, as consumers increasingly turn to the internet to manage their finances,” said Young. “LendingTree pioneered innovation in the financial services industry through its vision of educating and supporting consumers to enable them to make smart financial choices.  I am impressed by the company’s ability to expand and diversify its product offerings over the past several years, and I’m excited to join the world-class team here as we continue to fulfill our vision of empowering consumers.”

About LendingTree

LendingTree (NASDAQ: TREE) is the nation’s leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring, customized recommendations to improve credit health, and notification when there are opportunities to save money. In short, LendingTree’s purpose is to help simplify financial decisions for life’s meaningful moments through choice, education and support. LendingTree, LLC, is a subsidiary of LendingTree, Inc. For more information, go to, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

Megan Greuling

SOURCE LendingTree

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IBM Is Not Out of the Woods Yet



On Thursday afternoon, International Business Corporation (NYSE: IBM) reported its weaker than expected fourth quarter, showing that its transformation struggles continue. The large software acquisition  of Red Hat that helps customers manage a growing hybrid cloud world while using AI to drive efficiency did not manage to bring the desired improvement. The pandemic led to an entirely different scenario and adjusted profits declined by nearly a third in 2020. Upon the results, stock fell more than 6% in after-hours trading. For the past year, Big Blue’s shares have declined 5.1% while the Dow Jones Industrial Average to which it is a member of, gained 6.8% with the S&P gaining 16% during the same period.

Q4 earnings

Net income was $1.36 billion, or $1.51 a share, which is significantly less than $4.11 a share in the same quarter last year and less than the $1.81 a share that analysts had expected. After taking away significant restructuring charges and similar effects, earnings amount to $2.07 a share, down from $4.79 a share in 2019’s quarter.

Analysts expected sales of $20.7 billion, but they shrank from $21.78 billion the year before to $20.37 billion. This is IBM’s lowest quarterly revenue since 1997. Looking at YoY figures, revenue has fallen 30 of the past 34 quarters. The only solace investors could possibly find is in the fact that Red Hat’s revenue increased 18% compared to last year’s quarter, but this wasn’t enough to move the needle.

2020 figures

Revenue dropped from $77.15 billion in 2019 to $73.62 billion, pulling down adjusted earnings from $12.81 a share to $8.67. Before COVID-19 started its relentless march across the globe, analysts expected adjusted earnings of $13.30 a share on sales of $79.4 billion, according to FactSet, but expectations took a sharp dive afterwards. The delivered results were even weaker. At the end of the day, companies are what their figures say they are and right now IBM’s record continues to trend in the wrong direction with shrinking earnings and sales.

2021 outlook

Although Big Blue will be getting smaller on purpose, the planned spinoff of the managed infrastructure business at the end of the year is expected to result in sustainable mid-single-digit revenue growth and a strong free cash flow. The spin-off, along with the $34 billion 2018 Red Hat acquisition and new Chief Executive Arvind Krishna are all parts of an effort to better position IBM in the cloud space which is ran by no other than Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOG)(NASDAQ: GOOGL). As if things weren’t hard enough.

IBM expects to grow revenue this year, but the story is more complicated than that. It will take a while before its strategic acquisition makes its way to improved top and bottom lines. Unfortunately, the overall picture is that revenue shrank for the fourth straight quarter, leaving the new executive sitting in the same chair as his predecessor who had 22 straight quarters of revenue losses under his watch. Despite Krishna’s sound approach, IBM’s efforts are simply not generating the expected growth, for now. But it is certainly too soon to say his transformation strategy has failed. However, something needs to change and as soon as possible.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

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EV Efforts Needs to Catch Up to the Pace of Vaccine Development



Science has done the impossible in an effort to combat COVID-19. But there is another technological challenge that is also vital to the planet’s health and it is to make better and more affordable batteries that will enable a wider EV adoption. Batteries need to become cheaper, they need to recharge faster, they need to adjust to a variety of temperatures and they need to last. There are many challenges but more than $300bn has been committed to EV efforts, according to Financial Times.

2020 was brilliant for EVs, despite the pandemic

The Guardian reported that sales of electric cars rose by 43% to more than 3 million, while overall car sales slumped by a fifth last year. Tesla (NASDAQ: TSLA), whose market capitalization of around $805 billion this week was higher than most of its rivals put together, led the race by selling almost half a million EVs. It was followed by Volkswagen (OTC: VWAGY) who sold more electric vehicles in western Europe last year than Tesla, despite VW’s struggles with the technology in recent years. In fact, sales of electric cars more than doubled in Europe, pushing the region past China as the world’s biggest market for them, according to Swedish-based firm, December 2020’s sales were double compared to December 2019.

The equation is simple, EVs are better technology-wise than ICEs because there is no noise, no pollution, but there is better acceleration, and they are cheaper to run without running the environment. But, to truly replace traditional vehicles, more innovation is needed.

Innovations ahead

Worksport Ltd (OTC: WKSP) has recently added another trademark protection to its rich intellectual asset portfolio for TerraVis COR™. This innovative mobile battery system that is soon-to-be-launched is an extension to its TerraVis™ innovative truck tonneau cover system that brought solar-power to the EV equation. Another disruptive EV player is Ideanomics (NASDAQ: IDEX) which has a unique business model tailored to support a wider EV adoption. Its MEG segment effectively utilizes the S2F2C model in facilitating the switch for fleet operators to EVs. The company earns its revenue through a transaction fee for its holistic service that covers procurement, financing, and charging requirements. This is just one of several services that makes this company into a one-stop-shop for those looking to switch to EVs.

2021 – expectations are high

There is little time left to replace internal combustion engines. The UK aims to achieve this goal by 2030. The actual science behind EVs is very different from revolutionary mRNA technology used by Moderna Inc. (NASDAQ: MRNA), BioNTech (NASDAQ: BNTX) and Pfizer (NYSE: PFE) to develop their vaccines. Yet they have both one thing in common and that is the human brain that developed them. By successfully developing the vaccine to combat COVID-19 in less than a year, we won an even greater battle. People showed how far they can go when they come together to respond to an urging need. There’s no reason why developments battery technology won’t benefit from this same kind of synergy that is created when brilliant minds join forces. The money and enthusiasm are there to make yet another global public-private effort a success.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

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Awaiting for Apple’s Earnings



Apple (NASDAQ: AAPL) confirmed that its fiscal Q1 2021 results will be revealed on January 27th and Wall Street is getting excited. The new iPhone 12 could help to finally turn things around in Greater China where its sales have been falling apart since 2015.

The first financial report of the year is always Apple’s biggest in terms of revenue. For one thing, this quarter includes the holiday sales, but it also contains the first near-full quarter of sales for Apple’s annual flagship iPhone refresh. Launches of the iPhone 12 generation of smartphones that include the iPhone 12 mini, iPhone 12 Pro, and iPhone 12 Pro Max have reportedly seen such a high demand that Apple will allegedly increase production at the beginning of this year to a level that’s supposedly 30% higher than iPhone orders one year prior. But like the previous few quarters, this will be an unusual one with the ongoing pandemic. The Apple Watch Series 6, Apple Watch SE, and 2020 iPad, have been available for the entirety of the quarter, as opposed to the prior quarter which contained only a few days of this special trio.


Throughout 2020, Apple did not provide any guidance due to pandemic-related uncertainties. This practice will most likely remain in place as COVID-19 continues to wreak havoc on trade and supply chains across the globe. But, given the ongoing presence of social distancing measures that include working from home, revenue growth could still be in store for Mac and the iPad. This could be one of the last quarters of strong demand, before vaccines hopefully start putting an end to the global health crisis. Luckily for Apple, service revenues tend to be “sticky”, so this segment is unlikely to experience much of a decline going forward.

Previous quarter’s weak spots

The company failed to excite investors in its fourth quarter which ended September 26, 2020, due to weak iPhone sales. But this weakness was likely due to the fact that users were waiting for the new iPhone 12, which went on sale in October.


Analysts expect revenues for the quarter to exceed $100 billion for the first time in its history. Morgan Stanley expects Apple to deliver all-time record revenue and earnings due to the strength across its product and services portfolio, driven by 5G adoption, remote work and learning, followed by sustained App Store engagement. Therefore, analysts expect double digit YoY growth for Apple’s five revenue segments in the December quarter.Apple’s services segment had a strong fiscal 2020, and the holiday quarter is likely to follow. Whether this will be the case, we will find out on Wednesday when Apple discloses the results of its critical first fiscal quarter for 2021.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

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