IBM (IBM - Get Report) shares plunged 5.43% to $199.55 after the services giant registered a third quarter revenue miss. For the third-quarter, IBM earned $3.62 a share, a 10% year-over-year hike, and above analysts' forecast of $3.61 a share. IBM also reported revenue of $24.75 billion, below Wall Street's forecast of $25.36 billion. The Armonk, N.Y.-based company said currency impacted revenue by nearly $1 billion during the quarter. Despite the topline miss, the Dow component reiterated its outlook for non-GAAP 2012 earnings of at least $15.10 a share. On a GAAP basis, IBM took down its earnings forecast to at least $14.29 a share, as a U.K. pension-related charge affected earnings.
Shares of eBay (EBAY - Get Report) were slightly higher, up 0.12% to $48.30 as the online auction company prepares to report third-quarter results after the bell. Analysts surveyed by Thomson Reuters expect eBay to earn 54 cents a share on $3.4 billion in revenue. The San Jose, Calif.-based firm has had a strong run this year, gaining 59.28%, outpacing the broader Nasdaq. Interested in more on eBay? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull