Wall Street cheers Google, IBM results
Google and Big Blue see shares rise more than 4% as earnings are better than expected. IBM sees a solid 2013 as well. Apple recovers from an early decline. It reports results after Wednesday's close.
Google (GOOG) shares were jumping after hours as fourth-quarter earnings easily beat Wall Street estimates.
IBM (IBM) shares were also solidly higher thanks to better-than-expected earnings and stronger guidance.
The results will probably give stocks a boost on Wednesday.
Google was up 4.8% to $736.92 in after-hours trading after slipping $1.64 to $702.87 in regular trading.
The company reported earnings of $10.65 a share after adjustments, up 12.1% from $9.50 a share a year ago. The adjustments were non-cash charges to account for restructuring in its Motorola business.
Revenue, net of payments to advertising partners, was $11.34 billion, up 34% from a year ago. But it missed estimates, largely because of its Motorola handset business.
Still, investors were happy with growth in paid clicks, a key revenue and profit driver. It was up 24% overall, although cost per click was down 6% from a year ago and 2% from the third quarter.
IBM, meanwhile, was up 4% to $204 after hours. The shares had risen $1.61 to $196.08 in regular trading.
IBM earned $5.39 a shares, up 11% from a year ago. Revenue of $29.3 billion was down slightly but flat when adjusted for currency changes.
Big Blue expects $15.53 a share in earnings for 2013, $16.70 a share in operating earnings per share. It didn't offer revenue projections.
Meanwhile, Texas Instruments (TXN) shares were down slightly to $33.24 from a regular close of $33.46. The company's fourth-quarter results beat Street estimates, but first-quarter estimates were lower than expected.
The company sees first-quarter revenue at $2.69 billion to $2.91 billion. Earnings should be 24 to 32 cents a share. The Street has been looking for $2.89 billion in revenue and earnings of 29 cents.
The company said it continues "to operate in a weak demand environment."
The big after-hours gains for Google (GOOG) shares came after they'd fallen for the fourth straight day. Apple (AAPL) finished up $4.77 to $504.77, an exception to the trend. The company reports fiscal-first quarter results after Wednesday's close.
The Nasdaq Composite Index ($COMPX) closed up 8 points to 3,143. The Dow Jones industrials ($INDU) climbed 62 points to 13,712. The Standard & Poor's 500 Index ($INX) added 7 points to 1,493.
Microsoft (MSFT) dropped 10 cents to $27.15. It reports results after Thursday's close. Sources told The Wall Street Journal that the software giant is discussing whether to join an investor group seeking to take Dell (DELL) private. The group includes Dell founder Michael Dell. Dell was up 28 cents to $13.12. (Microsoft is the publisher of MSN Money.)
Amazon (AMZN) was off $1.93 to $270.19. Amazon reports fourth-quarter results on Jan. 29.
More on moneyNOW
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
More Market News
These hot movers could rise by double digits in coming months.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'