IBM delivered results after the close on Monday that exceeded Wall Street’s expectations.
Big Blue’s earnings of $1.17 a share topped $1.14 forecasts, and revenues of $23.43 billion beat $23.4 billion estimates.
Services bookings of just under $10 billion were slightly under analysts’ forecasts, but the results were good enough to send the stock 2% higher after hours. IBM also said it expects to beat full-year estimates of $4.97 a share.
Also after the close, Texas Instruments beat estimates but warned, but investors bid the stock higher anyway. JDA Software
, J2 Global
and CheckFree
beat estimates. E*Trade
beat earnings estimates but missed revenue estimates and offered mixed guidance.
Stocks rose during the day despite disappointing results from Dow component 3M , as techs led the market higher for the second straight day.
The Nasdaq surged 25 to 1936, the S&P 500 climbed 5 to 1114, and the Dow gained 22 to 9956. Volume declined to 1.38 billion shares on the NYSE, and 1.51 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 56% on the NYSE, and 81% on the Nasdaq. New highs-new lows were 117-48 on the NYSE, and 82-62 on the Nasdaq.
Check Point soared 17% after the company beat estimates and raised guidance.
Lexmark slipped after the company lowered guidance.
palmOne surged 9% on a new Treo and an upgrade.
McData jumped 6% on an upgrade.
And Google closed in on $150 a share ahead of its first earnings report on Thursday.
