IBM: For stability and growth

"The emerging BRIC countries of Brazil, Russia, India, and China together grew 18.0% (15.0% adjusted for currency) in 2008.

"In spite of concerns about the U.S. economy, IBM grew revenue domestically by 6% in the first quarter, 8% in the second quarter, and 3% in the third quarter of 2008. Although revenue fell by 2.0% in the fourth quarter, the full year 2008 revenue growth was 4.0%.

"Net income for the quarter was $2.3 billion, flat compared to the same quarter last year. With focus on expense management, diluted earnings for the quarter were $1.70, up 3.7% from $1.64 in the prior-year quarter.

"Total revenue of $21.7 billion was down 11.4% (down 4.0% when adjusted for currency) from $24.5 billion in the year-ago quarter. Revenue for the quarter was impacted by strong U.S. dollar and the global economic environment.

"Overall, in our view IBM provides a good mix of rising earnings estimates, worldwide exposure and a safe dividend. We believe IBM offers both stability and exposure to the eventual economic recovery."

Steven Halpern's TheStockAdvisors.com offers a free daily overview of the favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.