The Dow Jones Industrial Average ( ^DJI) closed up 58 points (+0.4%) at 13,252. During the day, 986.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 818.6 million. The NYSE advances/declines ratio closed at 1,813 issues advancing vs. 1,207 declining with 88 unchanged. The Dow component that led the way higher today was International Business Machines (NYSE: IBM), which sported a $1.28 gain (+0.6%) bringing the stock to $206. This single gain is lifting the Dow Jones Industrial Average by 9.69 points or roughly accounting for 16.7% of the Dow's overall gain. Volume for International Business Machines ended the day at 3.6 million shares traded vs. an average daily trading volume of 5.1 million shares. International Business Machines has a market cap of $226.21 billion and is part of the technology sector and computer hardware industry. Shares are up 10.8% year to date as of Wednesday's close. The stock's dividend yield sits at 1.5%. International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. The company has a P/E ratio of 15.6, above the average computer hardware industry P/E ratio of 14.7 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated.
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