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IBM

USDPartial · stale

Sources: StockAnalysis

Saved price$244.67
Analyst 12M target
$254.79
Difference from current price
+4.1%
12M target range
$174.00 – $300.00
Estimate agreement
43%

Price history & SEC filings

Up day Down day SEC filing
2026-09-16
Open
$240.50
High
$243.34
Low
$235.41
Close
$237.49
Change
-1.3%
Volume
6.2M

Price and SEC filing data

  • 2026-03-17: Open $250.51, High $256.39, Low $250.00, Close $256.11, Volume 5.8M.
  • 2026-03-18: Open $254.16, High $258.28, Low $250.16, Close $251.60, Volume 5.2M.
  • 2026-03-19: Open $249.43, High $252.19, Low $248.25, Close $250.37, Volume 4.2M.
  • 2026-03-20: Open $249.00, High $250.28, Low $241.77, Close $241.77, Volume 11.3M.
  • 2026-03-23: Open $246.50, High $251.35, Low $244.71, Close $248.44, Volume 5M.
  • 2026-03-24: Open $246.45, High $247.11, Low $238.00, Close $240.59, Volume 4.2M.
  • 2026-03-25: Open $243.60, High $246.19, Low $238.00, Close $241.39, Volume 4.2M.
  • 2026-03-26: Open $240.56, High $246.67, Low $239.80, Close $241.67, Volume 3.6M.
  • 2026-03-27: Open $238.85, High $239.44, Low $233.75, Close $236.34, Volume 4.9M.
  • 2026-03-30: Open $237.80, High $240.21, Low $236.13, Close $237.25, Volume 3.9M.
  • 2026-03-31: Open $240.27, High $242.85, Low $236.38, Close $242.39, Volume 4.8M.
  • 2026-04-01: Open $242.12, High $246.26, Low $240.14, Close $243.14, Volume 4.2M.
  • 2026-04-02: Open $243.00, High $248.21, Low $241.49, Close $248.16, Volume 3.4M.
  • 2026-04-06: Open $248.14, High $248.90, Low $244.74, Close $246.74, Volume 3.4M.
  • 2026-04-07: Open $245.32, High $245.76, Low $241.10, Close $245.07, Volume 2.4M.
  • 2026-04-08: Open $248.63, High $250.00, Low $240.80, Close $241.74, Volume 4.8M.
  • 2026-04-09: Open $240.88, High $241.74, Low $233.76, Close $237.18, Volume 5.1M.
  • 2026-04-10: Open $239.19, High $239.27, Low $230.51, Close $230.76, Volume 5.9M.
  • 2026-04-13: Open $233.63, High $238.07, Low $231.70, Close $237.82, Volume 5.3M.
  • 2026-04-14: Open $238.75, High $241.54, Low $238.12, Close $240.27, Volume 3.8M.
  • 2026-04-15: Open $242.25, High $246.06, Low $240.99, Close $244.80, Volume 3.9M.
  • 2026-04-16: Open $248.75, High $251.22, Low $246.13, Close $251.00, Volume 4.8M.
  • 2026-04-17: Open $254.67, High $255.65, Low $251.04, Close $253.47, Volume 5.7M.
  • 2026-04-20: Open $255.00, High $258.50, Low $252.56, Close $253.71, Volume 5.2M.
  • 2026-04-21: Open $254.00, High $258.09, Low $251.87, Close $255.68, Volume 5.6M.
  • 2026-04-22: Open $254.51, High $257.54, Low $247.21, Close $251.86, Volume 12.2M.
  • 2026-04-23: Open $232.27, High $232.91, Low $221.73, Close $231.08, Volume 22.3M.
  • 2026-04-24: Open $231.93, High $232.80, Low $225.00, Close $231.98, Volume 9.8M.
  • 2026-04-27: Open $229.95, High $231.32, Low $227.12, Close $228.05, Volume 8.1M.
  • 2026-04-28: Open $230.50, High $233.56, Low $228.46, Close $233.04, Volume 5.2M.
  • 2026-04-29: Open $230.34, High $231.48, Low $226.82, Close $227.10, Volume 6.4M.
  • 2026-04-30: Open $226.53, High $231.60, Low $224.90, Close $230.98, Volume 6.3M.
  • 2026-05-01: Open $234.55, High $235.95, Low $231.75, Close $232.20, Volume 3.6M.
  • 2026-05-04: Open $232.00, High $234.09, Low $228.62, Close $229.48, Volume 4M.
  • 2026-05-05: Open $230.16, High $231.00, Low $227.15, Close $229.03, Volume 4.2M.
  • 2026-05-06: Open $228.75, High $229.00, Low $224.38, Close $225.74, Volume 7.7M.
  • 2026-05-07: Open $227.50, High $231.82, Low $227.41, Close $231.31, Volume 5.5M.
  • 2026-05-08: Open $229.73, High $230.71, Low $224.83, Close $229.76, Volume 5.3M.
  • 2026-05-11: Open $228.66, High $230.23, Low $222.55, Close $223.55, Volume 6.7M.
  • 2026-05-12: Open $224.43, High $224.43, Low $219.22, Close $219.22, Volume 6M.
  • 2026-05-13: Open $218.27, High $218.31, Low $212.34, Close $214.64, Volume 8.4M.
  • 2026-05-14: Open $215.55, High $220.96, Low $215.00, Close $218.37, Volume 5.9M.
  • 2026-05-15: Open $218.20, High $220.91, Low $217.62, Close $219.30, Volume 6.2M.
  • 2026-05-18: Open $218.55, High $223.33, Low $217.75, Close $222.75, Volume 5.9M.
  • 2026-05-19: Open $224.50, High $227.35, Low $221.92, Close $222.33, Volume 5.9M.
  • 2026-05-20: Open $221.05, High $225.00, Low $216.78, Close $225.00, Volume 4.9M.
  • 2026-05-21: Open $232.58, High $253.63, Low $230.94, Close $252.97, Volume 25.7M.
  • 2026-05-22: Open $262.05, High $264.38, Low $253.39, Close $253.84, Volume 19.1M.
  • 2026-05-26: Open $254.55, High $254.55, Low $245.45, Close $250.69, Volume 9.3M.
  • 2026-05-27: Open $250.46, High $257.62, Low $250.46, Close $255.20, Volume 9.3M.
  • 2026-05-28: Open $261.00, High $268.89, Low $257.00, Close $264.22, Volume 12.4M.
  • 2026-05-29: Open $277.30, High $301.00, Low $273.33, Close $297.80, Volume 28.5M.
  • 2026-06-01: Open $322.55, High $327.98, Low $308.00, Close $320.42, Volume 32.9M.
  • 2026-06-02: Open $313.75, High $332.46, Low $310.11, Close $329.23, Volume 17.2M.
  • 2026-06-03: Open $318.30, High $318.30, Low $302.53, Close $305.63, Volume 13.9M.
  • 2026-06-04: Open $307.43, High $310.44, Low $300.18, Close $301.77, Volume 9.6M.
  • 2026-06-05: Open $300.00, High $302.30, Low $281.07, Close $284.84, Volume 12.5M.
  • 2026-06-08: Open $286.44, High $290.50, Low $279.43, Close $280.82, Volume 6.8M.
  • 2026-06-09: Open $281.14, High $283.59, Low $271.29, Close $277.49, Volume 9M.
  • 2026-06-10: Open $273.82, High $280.51, Low $271.33, Close $272.36, Volume 5.5M.
  • 2026-06-11: Open $268.00, High $276.48, Low $266.50, Close $274.85, Volume 7.6M.
  • 2026-06-12: Open $278.94, High $278.94, Low $267.68, Close $272.24, Volume 5.7M.
  • 2026-06-15: Open $272.00, High $272.25, Low $264.80, Close $268.71, Volume 7.2M.
  • 2026-06-16: Open $270.87, High $276.62, Low $268.61, Close $270.81, Volume 4.9M.
  • 2026-06-17: Open $266.35, High $268.87, Low $261.88, Close $262.35, Volume 5.5M.
  • 2026-06-18: Open $251.38, High $252.47, Low $243.68, Close $249.10, Volume 16.6M.
  • 2026-06-22: Open $248.43, High $253.31, Low $243.81, Close $252.22, Volume 9.6M.
  • 2026-06-23: Open $261.58, High $267.53, Low $255.26, Close $264.94, Volume 15.7M.
  • 2026-06-24: Open $261.84, High $265.07, Low $256.18, Close $262.96, Volume 8.1M.
  • 2026-06-25: Open $267.67, High $268.76, Low $256.00, Close $258.27, Volume 8.5M.
  • 2026-06-26: Open $258.94, High $273.14, Low $258.28, Close $271.63, Volume 9.7M.
  • 2026-06-29: Open $274.30, High $278.15, Low $269.06, Close $278.00, Volume 6.5M.
  • 2026-06-30: Open $273.21, High $282.57, Low $271.12, Close $281.21, Volume 7.5M.
  • 2026-07-01: Open $279.66, High $294.49, Low $278.96, Close $286.25, Volume 6.9M.
  • 2026-07-02: Open $283.14, High $290.93, Low $282.28, Close $289.52, Volume 5.9M.
  • 2026-07-06: Open $288.35, High $300.82, Low $287.65, Close $299.52, Volume 7.2M.
  • 2026-07-07: Open $305.66, High $311.80, Low $300.49, Close $306.13, Volume 8.6M.
  • 2026-07-08: Open $300.77, High $303.82, Low $295.59, Close $302.05, Volume 7.4M.
  • 2026-07-09: Open $285.84, High $297.28, Low $284.44, Close $295.30, Volume 10.8M.
  • 2026-07-10: Open $297.26, High $298.77, Low $287.50, Close $287.56, Volume 3.6M.
  • 2026-07-13: Open $290.50, High $297.50, Low $289.10, Close $290.23, Volume 5M.
  • 2026-07-14: Open $226.37, High $229.92, Low $213.22, Close $217.07, Volume 67.4M.
  • 2026-07-15: Open $220.97, High $223.81, Low $211.03, Close $211.20, Volume 29.6M.
  • 2026-07-16: Open $208.82, High $219.95, Low $204.44, Close $219.05, Volume 22.5M.
  • 2026-07-17: Open $215.62, High $217.17, Low $210.22, Close $212.67, Volume 13.2M.
  • 2026-07-20: Open $210.07, High $216.28, Low $208.82, Close $213.00, Volume 9.6M.
  • 2026-07-21: Open $210.72, High $214.97, Low $209.18, Close $210.50, Volume 12M.
  • 2026-07-22: Open $207.68, High $212.34, Low $204.73, Close $205.77, Volume 14.6M.
  • 2026-07-23: Open $202.64, High $207.55, Low $199.19, Close $206.65, Volume 15.3M.
  • 2026-07-24: Open $209.28, High $216.10, Low $206.80, Close $214.19, Volume 10.6M.
  • 2026-07-27: Open $217.75, High $219.63, Low $215.29, Close $216.28, Volume 8.4M.
  • 2026-07-28: Open $219.73, High $228.98, Low $215.11, Close $227.55, Volume 13.3M.
  • 2026-07-29: Open $227.70, High $230.97, Low $223.95, Close $226.44, Volume 8.8M.
  • 2026-07-30: Open $222.00, High $224.86, Low $220.20, Close $221.74, Volume 9.7M.
  • 2026-07-31: Open $221.15, High $224.76, Low $216.59, Close $223.65, Volume 9.1M.
  • 2026-08-03: Open $228.33, High $228.55, Low $224.87, Close $226.31, Volume 8M.
  • 2026-08-04: Open $224.76, High $235.31, Low $223.30, Close $235.15, Volume 7.5M.
  • 2026-08-05: Open $236.10, High $238.96, Low $233.46, Close $235.92, Volume 5.7M.
  • 2026-08-06: Open $229.61, High $234.47, Low $228.44, Close $233.43, Volume 4.3M.
  • 2026-08-07: Open $235.38, High $237.32, Low $232.72, Close $237.28, Volume 4.8M.
  • 2026-08-10: Open $235.00, High $240.74, Low $234.13, Close $236.31, Volume 7.3M.
  • 2026-08-11: Open $236.31, High $241.80, Low $235.44, Close $238.42, Volume 4.5M.
  • 2026-08-12: Open $236.95, High $237.46, Low $231.68, Close $235.98, Volume 5.7M.
  • 2026-08-13: Open $238.92, High $239.71, Low $233.61, Close $237.14, Volume 5.4M.
  • 2026-08-14: Open $238.37, High $239.15, Low $233.73, Close $234.32, Volume 4.5M.
  • 2026-08-17: Open $231.59, High $233.65, Low $227.40, Close $228.85, Volume 7.6M.
  • 2026-08-18: Open $229.73, High $234.45, Low $229.42, Close $232.67, Volume 4.7M.
  • 2026-08-19: Open $232.26, High $238.62, Low $230.51, Close $237.16, Volume 5.3M.
  • 2026-08-20: Open $236.00, High $237.50, Low $233.03, Close $233.69, Volume 5M.
  • 2026-08-21: Open $233.71, High $238.72, Low $233.12, Close $235.68, Volume 3.9M.
  • 2026-08-24: Open $234.37, High $234.49, Low $230.47, Close $231.04, Volume 4.1M.
  • 2026-08-25: Open $230.00, High $234.44, Low $229.51, Close $234.19, Volume 3M.
  • 2026-08-26: Open $230.70, High $234.23, Low $228.96, Close $229.87, Volume 4.6M.
  • 2026-08-27: Open $232.80, High $240.81, Low $231.45, Close $238.79, Volume 5.5M.
  • 2026-08-28: Open $238.30, High $239.08, Low $235.09, Close $235.59, Volume 3.9M.
  • 2026-08-31: Open $232.73, High $235.94, Low $232.18, Close $233.87, Volume 6.1M.
  • 2026-09-01: Open $231.00, High $233.09, Low $229.90, Close $231.40, Volume 3.2M.
  • 2026-09-02: Open $230.55, High $232.88, Low $229.10, Close $231.70, Volume 4.7M.
  • 2026-09-03: Open $234.38, High $238.29, Low $232.82, Close $234.71, Volume 4.4M.
  • 2026-09-04: Open $233.33, High $236.17, Low $231.68, Close $234.89, Volume 3.7M.
  • 2026-09-08: Open $232.95, High $233.40, Low $230.20, Close $232.09, Volume 4.8M.
  • 2026-09-09: Open $232.65, High $241.50, Low $230.36, Close $239.94, Volume 6.4M.
  • 2026-09-10: Open $238.18, High $242.31, Low $231.83, Close $234.02, Volume 5.8M.
  • 2026-09-11: Open $235.78, High $243.63, Low $235.00, Close $243.29, Volume 4.9M.
  • 2026-09-14: Open $249.41, High $251.37, Low $244.12, Close $249.09, Volume 7M.
  • 2026-09-15: Open $246.19, High $251.82, Low $246.15, Close $248.37, Volume 4.5M.
  • 2026-09-16: Open $240.50, High $243.34, Low $235.41, Close $237.49, Volume 6.2M.
  • 4 · Transaction details unavailable. Filed 2026-10-01. Accession 0001183474-26-000005.View filing
  • 4 · Transaction details unavailable. Filed 2026-10-01. Accession 0001196985-26-000004.View filing
  • 4 · Transaction details unavailable. Filed 2026-10-01. Accession 0001269971-26-000004.View filing

Analyst estimates

Source12M Target12M RangeAnalystsUpdated
StockAnalysis$259.85USD$174.00 – $300.00USD23—

MarketBeat data unavailable

Signal track record

First tracked2026-11-04 (8d ago)
Entry price$254.32
Initial 12M target$259.51
Initial 12M expected gap
+2.0%
Initial confidence
45%
Realized return
-3.8%-185.8% of target

Available. Fiscal quarters are based on SEC filings. Year-over-year change uses the corresponding quarter one year earlier.

Last checked

Revenue

Revenue by fiscal quarter, with SEC filing evidence
Fiscal quarterPeriodValueChange YoYSEC filing
FY2026 Q3 – 17,103,000,000 USD+4.7%
10-Q · Oct 22, 2026, accession 0000051143-26-000095 (opens in a new tab)
FY2026 Q2 – 17,162,000,000 USD+1.1%
10-Q · Jul 23, 2026, accession 0000051143-26-000078 (opens in a new tab)
FY2026 Q1 – 15,917,000,000 USD+9.5%
10-Q · Apr 23, 2026, accession 0000051143-26-000038 (opens in a new tab)
FY2025 Q4 – 19,686,000,000 USD+12.2%
10-K · Feb 24, 2026, accession 0000051143-26-000010 (opens in a new tab)10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)10-Q · Oct 23, 2025, accession 0000051143-25-000064 (opens in a new tab)
FY2025 Q3 – 16,331,000,000 USD+9.1%
10-Q · Oct 23, 2025, accession 0000051143-25-000064 (opens in a new tab)
FY2025 Q2 – 16,977,000,000 USD+7.7%
10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)
FY2025 Q1 – 14,541,000,000 USD+0.5%
10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)
FY2024 Q4 – 17,553,000,000 USD+1.0%
10-K · Feb 25, 2025, accession 0000051143-25-000015 (opens in a new tab)10-Q · Apr 30, 2024, accession 0000051143-24-000025 (opens in a new tab)10-Q · Jul 30, 2024, accession 0000051143-24-000039 (opens in a new tab)10-Q · Oct 30, 2024, accession 0000051143-24-000049 (opens in a new tab)

Net income or loss

Net income or loss by fiscal quarter, with SEC filing evidence
Fiscal quarterPeriodValueChange YoYSEC filing
FY2026 Q3 – 2,190,000,000 USD+25.6%
10-Q · Oct 22, 2026, accession 0000051143-26-000095 (opens in a new tab)
FY2026 Q2 – 2,165,000,000 USD-1.3%
10-Q · Jul 23, 2026, accession 0000051143-26-000078 (opens in a new tab)
FY2026 Q1 – 1,216,000,000 USD+15.3%
10-Q · Apr 23, 2026, accession 0000051143-26-000038 (opens in a new tab)
FY2025 Q4 – 5,600,000,000 USD+92.2%
10-K · Feb 24, 2026, accession 0000051143-26-000010 (opens in a new tab)10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)10-Q · Oct 23, 2025, accession 0000051143-25-000064 (opens in a new tab)
FY2025 Q3 – 1,744,000,000 USD+628.5%
10-Q · Oct 23, 2025, accession 0000051143-25-000064 (opens in a new tab)
FY2025 Q2 – 2,194,000,000 USD+19.6%
10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)
FY2025 Q1 – 1,055,000,000 USD-34.3%
10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)
FY2024 Q4 – 2,914,000,000 USD-11.4%
10-K · Feb 25, 2025, accession 0000051143-25-000015 (opens in a new tab)10-Q · Apr 30, 2024, accession 0000051143-24-000025 (opens in a new tab)10-Q · Jul 30, 2024, accession 0000051143-24-000039 (opens in a new tab)10-Q · Oct 30, 2024, accession 0000051143-24-000049 (opens in a new tab)

Operating cash flow

Operating cash flow by fiscal quarter, with SEC filing evidence
Fiscal quarterPeriodValueChange YoYSEC filing
FY2026 Q3 – 4,025,000,000 USD+30.6%
10-Q · Oct 22, 2026, accession 0000051143-26-000095 (opens in a new tab)10-Q · Jul 23, 2026, accession 0000051143-26-000078 (opens in a new tab)
FY2026 Q2 – 2,597,000,000 USD+52.7%
10-Q · Jul 23, 2026, accession 0000051143-26-000078 (opens in a new tab)10-Q · Apr 23, 2026, accession 0000051143-26-000038 (opens in a new tab)
FY2026 Q1 – 5,169,000,000 USD+18.3%
10-Q · Apr 23, 2026, accession 0000051143-26-000038 (opens in a new tab)
FY2025 Q4 – 4,040,000,000 USD-6.7%
10-K · Feb 24, 2026, accession 0000051143-26-000010 (opens in a new tab)10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)10-Q · Oct 23, 2025, accession 0000051143-25-000064 (opens in a new tab)
FY2025 Q3 – 3,082,000,000 USD+7.0%
10-Q · Oct 23, 2025, accession 0000051143-25-000064 (opens in a new tab)10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)
FY2025 Q2 – 1,701,000,000 USD-17.7%
10-Q · Jul 24, 2025, accession 0000051143-25-000052 (opens in a new tab)10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)
FY2025 Q1 – 4,370,000,000 USD+4.8%
10-Q · Apr 24, 2025, accession 0000051143-25-000032 (opens in a new tab)
FY2024 Q4 – 4,330,000,000 USD-3.0%
10-K · Feb 25, 2025, accession 0000051143-25-000015 (opens in a new tab)10-Q · Apr 30, 2024, accession 0000051143-24-000025 (opens in a new tab)10-Q · Jul 30, 2024, accession 0000051143-24-000039 (opens in a new tab)10-Q · Oct 30, 2024, accession 0000051143-24-000049 (opens in a new tab)

Insider activity

1 sale reported.

Available · Checked Nov 13, 2026

View reported transactions (1 row · 14 filings)

Transaction details unavailableFARR DAVID N

View Form 4 filing at SEC

Filing context

Reporting owners and roles: FARR DAVID N (director)

Transaction details unavailable.

Transaction details unavailableZOLLAR ALFRED W

View Form 4 filing at SEC

Filing context

Reporting owners and roles: ZOLLAR ALFRED W (director)

Transaction details unavailable.

Transaction details unavailableLIVERIS ANDREW N

View Form 4 filing at SEC

Filing context

Reporting owners and roles: LIVERIS ANDREW N (director)

Transaction details unavailable.

Transaction details unavailableGorsky Alex

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Gorsky Alex (director)

Transaction details unavailable.

Transaction details unavailableVOSER PETER R.

View Form 4 filing at SEC

Filing context

Reporting owners and roles: VOSER PETER R. (director)

Transaction details unavailable.

Transaction details unavailableLaguarta Ramon

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Laguarta Ramon (director)

Transaction details unavailable.

Transaction details unavailableMCNABB FREDERICK WILLIAM III

View Form 4 filing at SEC

Filing context

Reporting owners and roles: MCNABB FREDERICK WILLIAM III (director)

Transaction details unavailable.

Transaction details unavailableBuberl Thomas

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Buberl Thomas (director)

Transaction details unavailable.

Transaction details unavailablePollack Martha E

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Pollack Martha E (director)

Transaction details unavailable.

Transaction details unavailableHOWARD MICHELLE J

View Form 4 filing at SEC

Filing context

Reporting owners and roles: HOWARD MICHELLE J (director)

Transaction details unavailable.

Transaction details unavailableMiebach Michael

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Miebach Michael (director)

Transaction details unavailable.

Transaction details unavailableBrown Marianne Catherine

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Brown Marianne Catherine (director)

Transaction details unavailable.

Transaction details unavailableKRISHNA ARVIND

View Form 4 filing at SEC

Filing context

Reporting owners and roles: KRISHNA ARVIND (director, officer (Chairman, President & CEO))

Transaction details unavailable.

SaleThomas Robert David

View Form 4 filing at SEC

Filing context

Reporting owners and roles: Thomas Robert David (officer (Senior Vice President))

  • Thomas Robert DavidSale25,000 shares · $5,758,087.50
    Transaction details

    officer (Senior Vice President) · Direct ownership · Common Stock · Code S/D · 34.34% of before-trade holdings

Options, grants, withholding, and gifts are context, not voluntary market purchases or sales.

Reported sales can reflect planned or tax-related transactions and do not by themselves indicate a view on the stock.

Purchase and sale labels describe reported transaction codes; they do not indicate whether the transaction is favorable.