Stocks Little Changed as IBM, Coach Earnings Roll Out
TheStreet's Senior Stock Analyst Nicole Urken breaks down earnings reports from IBM, Coach, and Nuance Communications.
Dow component IBM reported another operational miss with low quality EPS. Coach reported a quarter with comps in the U.S. down 13.6%, a significant deceleration from the 6.8% decrease last quarter. Nuance Communications, the provider of voice recognition software, is trading up this morning after pre-announcing first quarter revenue and EPS above previous guidance. In M&A, VMWare acquired AirWatch, a provider of enterprise mobile management and security solutions. U.S. Bancorp reported an earnings beat but saw net income margin falling quarter over quarter. Meanwhile, rail name Norfolk Southern reported a beat with strong intermodal, chemical, auto and agricultural shipments to offset declines in coal traffic.
