Intel, IBM, J&J: Dow Midday Movers
NEW YORK (TheStreet) - U.S. stocks were falling midday Wednesday as mixed earnings reports from tech heavyweight Intel (INTC) and IBM (IBM) weighed on investor sentiment.
The Dow Jones Industrial Average dropped 60.51 points, or 0.46% to 13,055. The biggest percentage decliners among the blue chips were IBM, Intel and Johnson & Johnson (JNJ).
 |
Shares of IBM fell 2.89% to $201.46. The technology company missed analysts' revenue estimates, reporting first-quarter revenue of $24.67 billion on earnings of $2.78 a share. Analysts, on average, expected revenue of $24.77 billion on earnings of $2.65 a share.
TheStreet Ratings gives IBM an A+ grade with a buy rating and $266.87 price target.
Intel shares lost 1.76% to $27.97. Intel reported Tuesday first-quarter earnings of $2.9 billion, or 56 cents a share, which topped the average analyst estimate of 50 cents a share. But the chip maker anticipates that its second-quarter non-GAAP gross profit margins will fall on a sequential basis. TheStreet Ratings gives Intel an A+ grade with a buy rating and $36.65 price target. Shares of Johnson & Johnson dropped 1.49% to $63.26, continuing to slide after its quarterly report Tuesday morning. TheStreet Ratings gives Johnson & Johnson a B- grade with a buy rating and $74.09 price target. --Written by Alexandra Zendrian in New York.>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
