Stocks closed broadly lower, as results from IBM and Intel failed to impress investors. IBM was down 3.5% and Intel off 1.8% a day after the companies reported better-than-expected earnings but fell short on revenue targets. Tech stocks closed mixed with Yahoo soaring 3.2% after upbeat earnings report. Apple ended down 0.2% after surging more than 5% in the prior session. Also giving the sector a lift was Seagate Technology which added 3.8% after the hard co. posted a surge in profit. In the evening trade eBay surged 7.6% following better-than-anticipated quarterly results, while Qualcomm dropped 3.4% as the co.’s quarterly forecast fell short of projections. Implied volatility inched higher on moderate trading volumes.
Thursday, April 19, 2012
Closed lower as Intel, IBM results disappointed
Stocks closed broadly lower, as results from IBM and Intel failed to impress investors. IBM was down 3.5% and Intel off 1.8% a day after the companies reported better-than-expected earnings but fell short on revenue targets. Tech stocks closed mixed with Yahoo soaring 3.2% after upbeat earnings report. Apple ended down 0.2% after surging more than 5% in the prior session. Also giving the sector a lift was Seagate Technology which added 3.8% after the hard co. posted a surge in profit. In the evening trade eBay surged 7.6% following better-than-anticipated quarterly results, while Qualcomm dropped 3.4% as the co.’s quarterly forecast fell short of projections. Implied volatility inched higher on moderate trading volumes.
