IBM, Yahoo Beat The Street

IBM and Yahoo beat Wall Street estimates with room to spare after the close on Tuesday.

Big Blue’s earnings of $1.81 a share topped forecasts by a nickel, and revenues rose 6.8% to $27.67 billion, also exceeding consensus estimates. Software and services revenues were stronger than expected, and the company said 2005 estimates are “reasonable.”

Yahoo’s earnings of 13 cents a share beat estimates by 2 cents, and net revenues after traffic acquisition costs surged 54% to $785 million, ahead of $754.3 million estimates. Yahoo’s forward guidance was also generally better than anticipated.

Both stocks edged higher in after-hours trading.

Also after the close, Motorola beat estimates but offered mixed guidance. Juniper and Check Point topped forecasts. AMD reported mixed results following a warning last week, and Rambus missed estimates.

Stocks rose during the day on strong results from financial companies.

The Nasdaq rose 18 to 2106, the S&P 500 climbed 11 to 1195, and the Dow gained 70 to 10,628. Volume rose to 1.6 billion shares on the NYSE, but declined to 2 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 76% on the NYSE, and 68% on the Nasdaq. New highs-new lows were 164-23 on the NYSE, and 104-24 on the Nasdaq.

51job plunged 35% on a warning, while JDS Uniphase was unchanged after the company lowered guidance.

CNT fell 15% after McData acquired the company for less than investors expected.

Ameritrade and Schwab climbed on better than expected results, while slipped on in-line results.

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