IBMdelivered 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 Instrumentsbeat estimates but warned, but investors bid the stock higher anyway. JDA Software, J2 Globaland CheckFreebeat estimates. E*Tradebeat 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 Pointsoared 17% after the company beat estimates and raised guidance.
Lexmarkslipped after the company lowered guidance.
palmOnesurged 9% on a new Treo and an upgrade.
McDatajumped 6% on an upgrade.
And Googleclosed in on $150 a share ahead of its first earnings report on Thursday.