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IBM's stock tumbles as preliminary 2Q results come in below Wall Street's expectations
Associated Press35d agobearish
IBM's stock tumbles as preliminary 2Q results come in below Wall Street's expectations

Shares of IBM are sliding before the market open on Tuesday as the company provided preliminary second-quarter results that are below Wall Street's expectations. International Business Machines said that it anticipates a quarterly adjusted profit of $2.93 per share on revenue of $17.2 billion. CEO Arvind Krishna said in a letter to investors that the company's software and infrastructure performance shortfall during the quarter was due to clients shifting their spending toward servers, storage, and memory purchases before anticipated price increases.

Bloomberg35d agobearish
Apple Gets Rare Bear Rating as KeyBanc Downgrades on Demand Risk

(Bloomberg) -- Apple Inc. received a rare bearish rating as KeyBanc Capital Markets downgraded the stock to underweight, citing concerns over both demand and valuation.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkDisney Exiting Streaming Could Spur 40% Rally: Wells FargoOpenAI Engineer’s ‘LOL’ Moment Set Stage for Legal Fight With App

Investing.com35d agobearish
IBM plunges 19% as memory capex squeeze derails Q2 earnings

Investing.com --IBM’s preliminary second-quarter results delivered a gut punch to investors, sending the stock down 19% on Tuesday morning as a massive, industry-wide shift in hardware capital expenditure (capex) cannibalized the company’s high-margin software business.

Bloomberg35d agoneutral
Goldman Blows Past Stock-Trading Records With $7.42 Billion Boon

(Bloomberg) -- Goldman Sachs Group Inc. trounced its own Wall Street stock-trading records, posting $7.42 billion for a quarter that saw indexes rip higher and ongoing market volatility around artificial intelligence and war in the Middle East.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkOpenAI Engineer’s ‘LOL’ Moment Set Stage for Le

Investing.com35d agobullish
JPMorgan beats estimates on strong banking fees

Investing.com -- JPMorgan Chase & Co. (NYSE:JPM) reported second-quarter earnings on Tuesday, sending shares lower premarket despite earnings and revenue beating analyst expectations,

Investing.com35d agobullish
Wells Fargo climbs premarket after strong Q2 earnings beat

Investing.com -- Shares in Wells Fargo climbed 1.5% in premarket trading Tuesday after the bank reported second-quarter earnings that comfortably beat analyst expectations, with strength across all of its operating segments.