IBM (IBM) earnings estimates were reduced through 2014 to reflect weak hardware sales at Citigroup.
IBM earnings were cut primarily to reflect the $400M of transactional deals that did not close in the quarter and weak IT spending trends, said Deutsche Bank. Price target was reduced $225.
Morgan Stanley (MS) estimates were reduced at UBS. Morgan Stanley earnings estimates were cut for 2013 given the first quarter miss and weaker securities revenue, said UBS.
Microsoft (MSFT) earnings estimates were increased for 2013 at UBS. Gross margins are beginning to stabilize as the company gains scale.NetFlix (NFLX) estimates were increased at Lazard. NetFlix estimates increased through 2013, Lazard Capital Markets said. Q1 report may swing ability to deliver sub growth. Buy rating and $200 price target. Vertex Pharmaceutical (VRTX) price target was increased at Deutsche Bank. Vetex' price target was increased to $100, said Deutsche Bank. F508del homozygous and other Kalydeco mutations are now expected to have a 100% success rate. Verizon (VZ)VZ Verizon earnings estimates were increased through 2014 to reflect strong Q1 wireless results, said Citigroup. The opportunity for a possible LBO of Vodafone's stake in Verizon Wireless remains on the table. Price target goes to $56. Follow TheStreet on Twitter and become a fan on Facebook. >To submit a news tip, email: firstname.lastname@example.org.