The Dow Jones Industrial Average closed at a new all-time high Wednesday, but the index did it without IBM, which got hit by multiple downgrades on weak U.S. sales and services bookings despite better than expected results.
Yahooalso weighed on the tech sector, tumbling 12% after missing estimates. Intelfared better, gaining about 2% on results that weren’t as bad as feared.
Motorolashares gained despite issuing a weak outlook.
Seagate, Cognex, Netflixand Syntelfell on their results, but Linear Techand ASMLjumped on their earnings reports.
Vonagelost 6% on bankruptcy concerns.
After the close, eBayshares gained 4% after the online auction king beat estimates and raised current quarter and full-year guidance. Skype and PayPal sales were also better than expected.
The Nasdaq lost 6 to 2510, the S&P 500 gained 1 to 1472, and the Dow rose 30 to 12,803. Volume rose to 2.94 billion shares on the NYSE, and 2.12 billion on the Nasdaq. Declining issues led by an 18-14 margin on the NYSE, and 18-12 on the Nasdaq. Downside volume was 52% on the NYSE, and 51% on the Nasdaq. New highs-new lows were 226-16 on the NYSE, and 129-46 on the Nasdaq.