This Day On The Street
Continue to site
ADVERTISEMENT
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

Intel, Microsoft, IBM: Dow Movers

NEW YORK ( TheStreet) -- U.S. stocks finished with strong gains Wednesday as investors cheered the latest batch of earnings reports, sending the technology and capital goods sectors markedly higher.

The Dow Jones Industrial Average rose 103 points, or 0.81%, to close at 12,909. The blue-chip index has now risen in three of the past four sessions and is up 5.66% so far in 2012.

Breadth within the Dow was positive with 23 of the 30 components posting gains. Walt Disney (DIS), a big gainer on Tuesday after receiving an upgrade from Bank of America Merrill Lynch, closed Wednesday flat.

Leading the Dow higher were Intel (INTC - Get Report), Microsoft (MSFT - Get Report) and IBM (IBM - Get Report).

Shares of Intel gained 3.27% to $26.21. Intel reported second-quarter earnings Tuesday that beat analysts' expectations but the No. 1 chipmaker lowered guidance.

The stock has now risen 8.08% year to date.

Microsoft shares increased 2.66% to $30.45. The software company is slated to report fourth-quarter earnings on Thursday. Analysts, on average, expect earnings of 62 cents a share on revenue of $18.11 billion.

The stock has gained 17.3% year to date.

Shares of IBM rose 2.5% to $188.25. After the close, Big Blue reported second-quarter earnings of $3.9 billion, or $3.51 a share, up from year-earlier earnings of $3.7 billion, or $3.09 a share. On average, analysts anticipated earnings of $3.42 a share.

IBM's stock has gained 2.38% year to date.

The biggest decliner in the index was Bank of America (BAC - Get Report). Shares dropped 4.92% to $7.53.

The bank saw mortgage claims jump 73% in the second quarter.

Disputes over mortgage-related securities have been a severe drag on bank earnings for nearly two years, but Bank of America has been by far the hardest hit.

Bank of America's stock has risen 35.43% year to date.

-- 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.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BAC $15.64 0.00%
IBM $169.78 0.00%
INTC $32.08 0.00%
MSFT $47.87 0.00%
AAPL $130.28 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs