Forget Alcoa and GE
. For technology investors, earnings season begins this week, with many of the sector’s biggest bellwethers set to report.
IBM , Intel
and Yahoo
will report Tuesday night, followed by eBay
, Apple
and AMD
on Wednesday, and Google
on Thursday.
And that’s just a few of the tech names reporting this week, with Amazon and Microsoft
still to come next week.
Intel got the week off to a hopeful start Monday when it said it shipped 5 million dual core chips in two months. Intel shares started the day strong, but gave back most of their gains by the close as investors awaited the rest of the company’s results. Analysts expect earnings of 17 cents a share from Intel on a 13.5% decline in sales to $8.62 billion. AMD on Wednesday is expected to show a similar sales decline due to the chip giants’ price war.
IBM is expected to show a 2.6% gain in sales to $22.08 billion, and earnings of $1.35 a share. Yahoo, beset by market share losses to Google and slowing ad sales, is nonetheless expected to show a 23% jump in sales to $1.15 billion, with earnings of 11 cents a share.
Stocks posted modest gains Monday ahead of those earnings reports and wholesale and retail inflation data, with the Dow stalling just shy of the 12,000 level.
Open Solutions soared on a buyout offer.
Research In Motion slipped after delaying its quarterly filing while it reviews stock option grants.
SumTotal fell on its results, while Asyst
gained on its report.
The Nasdaq rose 6 to 2363, the S&P 500 added 3 to 1369, and the Dow climbed 20 to 11,980. Volume declined to 2.31 billion shares on the NYSE, and 1.92 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 19-10 on the Nasdaq. Upside volume was 67% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 342-12 on the NYSE, and 247-31 on the Nasdaq.