Strong earnings from
and others helped boost stocks early on as the major market averages soared.
IBM after the close Wednesday reported first-quarter earnings of $1.55 a share, flying past the 20-analyst
estimate of $1.41 and up from the year-ago $1.06.
wrote about IBM's earnings report in a story
Dow Jones Industrial Average
component, was up 26 1/8, or 15%, to 198.
The Dow was up 128 to 10,709. The
was up 13 to 1348. The
Nasdaq Composite Index
was up 72 to 2561. The
was up 5 to 432.
TheStreet.com Internet Sector
index was up 30 to 666.
The 30-year Treasury bond was down 7/32 to 95 26/32, yielding 5.54%.
On the earnings front recently,
posted first-quarter earnings of 29 cents a share, in line with the 15-analyst estimate and up from the year-ago 26 cents. McDonald's was up 3/8 to 45 3/4.
Most Up at Open -- NYSE
Most Up at Open -- Nasdaq
: CNet after the close posted earnings that blew past Wall Street earnings estimates for the first quarter and announced a 2-for-1 stock split.
Most Down at Open -- NYSE
Chase (CMB) , down 1 11/16 to 81 3/4
Most Down at Open -- Nasdaq
Adac Labs (ADAC) , down 5 11/16 to 6 15/16
: The company warned it sees lower revenue for the rest of the fiscal year due to a new company revenue recognition policy and weaker demand.