This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IBM, Apple Earnings: Weekly Tech Recap

NEW YORK ( TheStreet) -- Led by IBM (IBM - Get Report), Apple (AAPL - Get Report) and Intel (INTC - Get Report), a series of solid tech earnings reports bolstered stocks this week, driving the Nasdaq up 18 points to 2820 Friday.

IBM set the tone for everyone Tuesday, when it stomped first-quarter expectations and raised full-year earnings guidance.

The tech bellwether brought in revenue of $24.6 billion, up 8% on the same period last year, or 5% adjusted for the effects of currency. Analysts had been looking for sales of $24.02 billion.

Software, a key growth driver for IBM, enjoyed a strong first quarter, with revenue up 10% excluding the company's divested product lifecycle management (PLM) assets.

IBM, whose shares have dropped following five of its last six earnings reports, saw its stock end the week up 2.14%.

Also on Tuesday, Intel posted record quarterly revenue and profit; the chipmaker nixed talk of weakness in the PC market on its conference call with analysts. Investors responded positively to the numbers, initially pushing Intel's stock up $1.20, or 6.04%, to $21.06 in extended trading.

Intel attributed its strong performance largely to robust enterprise demand, with the company's data center revenue climbing 32% compared to the prior year. The chipmaker's PC Client Group also registered a 17% year-over-year increase in sales.

Intel CEO Paul Otellini said that Intel chip-powered smartphones and tablets -- those running Nokia's (NOK) Meego, Microsoft (MSFT) Windows Phone 7 and Google's (GOOG) Android -- should surface sometime within the next 12 months.

Intel shares ended the week up 0.23%.

Also on Tuesday, Yahoo! (YHOO - Get Report) posted a drop in first-quarter earnings and sales, as the embattled Internet giant narrowly beat Wall Street's estimates.

Yahoo!'s search revenue, excluding traffic and acquisition costs, fell 19% to $357 million. The company's display business, an area where it faces stiff competition from Google and Facebook, grew 10% to $471 million excluding traffic and acquisition costs, in line with analyst expectations.

The company's shares closed down 0.12% on Thursday.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
INTC $30.36 -0.82%
JNPR $22.71 -2.74%
IBM $144.13 -0.78%
T $38.91 -0.49%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs