The shares of IBM have been knocked down in line with the S&P 500 over the course of this brutal market year. Yet, Ockham Research sees increasing appeal in the shares of "Big Blue".

Hewlett-Packard is buying Electronic Data Systems for $12.6 billion in a deal that will create the second largest technology services provider behind IBM.

HP will pay $25 per share in cash for EDS, nearly a 25% premium to Friday's closing price, which pioneered the concept of running computer systems and providing other high-tech help for large companies and government agencies.