Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months.
Time Warner Cable has won a contract to carry Los Angeles Dodgers games for at least the next two decades starting in 2014, snatching the games away from Fox Sports after this year's baseball season ends, according to a person familiar with the matter.
Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday. DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012.
Jaded investors are starting to realize why IBM is often referred to as Big Blue. The tech giant posted mixed financial results after Tuesday's market close, missing Wall Street's revenue targets for the fifth consecutive quarter.
Earnings season has officially kicked into high gear: 39 companies have reported so far, with the S&P reporting an earnings per share surprise of 6.8%. The best results include increases in financials, consumer discretionary, and materials. Here are some highlights.
In its first 100 years, IBM soldiered forward by dominating in America. But Big Blue's second quarter results -- particularly its strong growth in expanding markets -- show that the next 100 years will be all about global dominance.
Microsoft used to be the most valuable tech company in the U.S. based on market capitalization. Apple took that crown away last year. Now, IBM has dropped the Redmond, Wash., giant into third place. So what's IBM doing right, and what's Microsoft doing wrong?
Shares rose in Asia Wednesday. In Shanghai the Composite Index climbed 1.8% to 2,758 and in Hong Kong the Hang Seng rose 1.1% to 24,420. Japan's Nikkei 225 Index was up 0.4%, ending the day at 10,557.
IBM beat Wall Street expectations with its fourth-quarter earnings released Thursday, growing profit 9% and sales 7%. The company has gained from increased corporate spending on computer upgrades and on outsourcing.
IBM shares soared 69 cents past their record high, set during the dot-com boom, to reach $139.88 per share before closing at $139.66 per share Monday. The rally reflects a slight market upswing and news of strong quarterly earnings from a competitor.
The first peak week of reports was just what the market ordered, thanks to some beat-and-raise results from Dow blue chips. This week has more big names on tap. And again, jittery investors will be looking closely, especially for revenue growth. [With video]
Technology icon IBM reported a 13% increase in earnings Monday, but overall revenue fell short of Wall Street expectations, leading investors to flee the stock in after-hours trading.