Big Techs Post Mixed Results

Some of the biggest names in technology reported quarterly results late Tuesday, and the results were mixed.

IBM was unchanged after beating Wall Street sales estimates, while Intel edged higher on results that weren’t as bad as feared. Yahoo faced tougher going, falling 6% after missing on the top and bottom line.

Big Blue’s sales rose 6% to $22.03 billion, above $21.86 billion forecasts, and earnings of $1.21 a share met expectations. The company also reaffirmed full-year guidance, but the stock was little changed after hours after posting a 1% gain during the day.

Intel shares edged higher after the company’s sales of $8.9 billion were just below $9 billion forecasts. Earnings of 22 cents a share met estimates, but second quarter guidance of $8.2-$8.8 billion was below $8.9 billion forecasts and gross margins continued to be mixed. The company also said it sees business improving in the second half. After AMD’s warning earlier this month, Intel’s results were good enough.

Yahoo investors dumped shares after expected gains from the company’s new ad platform failed to materialize. Earnings of 10 cents a share were a penny below estimates, and revenue after traffic acquisition costs of $1.18 billion came in under $1.21 billion estimates.

Stocks were mixed during the day on in-line consumer inflation data and stronger than expected housing starts.

EMC gained on its results, and Adtran was another earnings gainer.

BCE rose after confirming takeover talks.

InsWeb doubled on its results.

Netlist and Ameritrade fell on their results.

24/7 Media fell on a downgrade.

The Nasdaq lost 1 to 2517, the S&P 500 gained 3 to 1471, and the Dow rose 53 to 12,773. Volume rose to 2.92 billion shares on the NYSE, and 2.02 billion on the Nasdaq. Declining issues led by a 16-15 margin on the NYSE, and 17-13 on the Nasdaq. Upside volume was 51% on the NYSE, and 49% on the Nasdaq. New highs-new lows were 321-19 on the NYSE, and 201-43 on the Nasdaq.