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International Business Machines

$IBM
NYSETechnology

153 stories mentioning International Business MachinesUpdated 13d ago

Trading with the broader tech sector, which swung from a Nasdaq pullback to a five-week low to gains amid US-Iran peace-deal optimism.

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Dell Beats Quarterly Views on Record AI Server Demand, Boosts Full-Year Outlook
US Markets

Dell Beats Quarterly Views on Record AI Server Demand, Boosts Full-Year Outlook

Dell Technologies' (DELL) fiscal second-quarter results beat Wall Street's estimates, driven by record artificial intelligence server demand, while the company lifted the full-year outlook.Adjusted earnings rose to $7.04 a share for the quarter ended July 31 from $2.32 a year earlier, well above the FactSet-polled consensus of $4.91. Revenue soared 58% year-on-year to $46.97 billion, higher than the Street's view of $44.89 billion.Revenue in the infrastructure solutions group climbed 89% to $31.78 billion as AI-optimized server sales doubled to $16.4 billion, Dell said. Traditional server and networking revenue soared 122%.The company saw record AI server demand, generating $60.9 billion in orders, Chief Operating Officer Jeff Clarke said in a statement.Dell's shares were up 8.2% in after-hours trade. The stock surged 238% so far this year through Tuesday's close.Sales for the client solutions group, which includes personal computers, climbed 20% year-on-year to $15.03 billion in the fiscal second quarter.Morgan Stanley expected Dell to post "strong" fiscal second-quarter results and lift full-year guidance amid momentum in AI servers and traditional infrastructure, according to a note last week.Dell now expects full-year non-GAAP EPS of $25.50, plus or minus $0.25, compared with its previous guidance of $17.90. Revenue is now pegged at $192 billion, plus or minus $2 billion, up from the prior $165 billion to $169 billion range. The consensus is for full-year adjusted EPS of $18.99 and sales of $174.05 billion.For the current quarter, Dell forecasts adjusted EPS of $6.50, plus or minus $0.10, on revenue of $49 billion, plus or minus $500 million. Analysts are looking for $4.46 and $41.36 billion, respectively.BofA Securities had also projected Dell to raise its fiscal 2027 guidance, saying in a note on Monday that the upside is limited by component availability and customer data center readiness. "For AI servers, we see another constructive setup given the scale of backlog, continued order activity, and visibility into multi-quarter deployments," the brokerage wrote.In July, IBM (IBM) reported second-quarter results that fell short of analysts' estimates and reduced full-year constant-currency revenue growth expectations.AI server maker Hewlett Packard Enterprise (HPE) is scheduled to report its fiscal third-quarter earnings on Wednesday.

$DELL$HPE$IBM
Sectors

Sector Update: Tech Stocks Fall Premarket Monday

Technology stocks were falling premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.1% lowerIBM (IBM) said it introduced a dual-architecture mainframe processor that allows businesses to use both IBM and Arm's (ARM) operating systems on future IBM Z and LinuxONE computers. Shares of Arm were down more than 2% pre-bell.STMicroelectronics (STM) and the National University of Singapore have launched a four-year research initiative focused on developing edge artificial intelligence technologies, the parties said. STMicroelectronics shares were down more than 1% premarket.Taiwan Semiconductor Manufacturing (TSM) is partnering with Xiaomi to make a new version of the Chinese smartphone maker's Xring handset processor, Reuters reported, citing unnamed sources. Taiwan Semiconductor Manufacturing stock was 0.6% lower premarket.

$ARM$IBM$STM$TSM$XLK$XSD
Sectors

Sector Update: Tech

Technology stocks were falling premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.1% lowerIBM (IBM) said it introduced a dual-architecture mainframe processor that allows businesses to use both IBM and Arm's (ARM) operating systems on future IBM Z and LinuxONE computers. Shares of Arm Holdings were down more than 2% pre-bell.

$ARM$IBM
Software Companies' Second-Quarter Beat Rate Accelerates Sequentially, RBC Says
US Markets

Software Companies' Second-Quarter Beat Rate Accelerates Sequentially, RBC Says

Software companies' revenue and earnings beat rates accelerated sequentially in the second quarter, driven by strength in infrastructure, security, and observability, RBC Capital Markets said in a note emailed Wednesday.Among the 54 on-quarter software companies that have reported results in the most recent cycle, the average company topped Wall Street's revenue estimates by 2.6%, up from a 2.4% beat in the first quarter, according to the brokerage. The profitability measure surpassed consensus expectations by 21.2%, compared with the first quarter's 15.7%."The biggest (second-quarter) revenue beats came from infrastructure, security, and observability while the smallest beats came from back Office, (software-as-a-service), and vertical," Matthew Hedberg, RBC's head of global technology, Internet, media, and telecommunications research, said in the note.The annual recurring revenue-to-billings ratio exceeded estimates by 3.4%, reaching the highest level in four years.Palantir Technologies (PLTR), Twilio (TWLO), Cloudflare (NET), and Xometry (XMTR) registered positive stock moves the day after results as they posted accelerated revenue beats, Hedberg said. Other companies that helped buoy sentiment were those with positive commentary on artificial intelligence tailwinds or adoption.Datadog (DDOG) and Varonis Systems (VRNS) logged share price declines post earnings as they "did not clear high bars," while HubSpot's (HUBS) stock traded lower amid reduced guidance, according to the RBC note. Meanwhile, EverCommerce (EVCM), IBM (IBM), N-able (NABL), and Pegasystems (PEGA) seem to be navigating a tough spending environment."While software stock movement has bifurcated through 2026 over perceived AI leaders/laggards, (second-quarter) showed a clear sign of bifurcating fundamentals with numerous companies seeing pressure from AI spending taking away budget or delaying decision-making," RBC analysts said.The brokerage said the full-year 2026 revenue outlook was 0.7% above consensus on average as top-line guides came in better than expected, while full-year profitability guidance topped market expectations by 2.8%.Salesforce (CRM), CrowdStrike (CRWD), Nutanix (NTNX), Okta (OKTA) and Veeva Systems (VEEV) are scheduled to report off-quarter results on Aug. 26."Similar to the (on-quarter) cohort, we expect price action for the (off-quarter) cohort to be volatile with a bifurcation in the AI haves and have not," RBC said.

$CRM$CRWD$DDOG$EVCM$HUBS$IBM$NABL$NET$NTNX$OKTA$PEGA$PLTR$TWLO$VEEV$VRNS$XMTR
Wire

Arrow Electronics Expands IBM Distribution Coverage to Seven Additional Countries

Arrow Electronics (ARW) said Monday it expanded its distribution coverage for International Business Machines (IBM) to seven additional countries.The agreement allows Arrow to offer IBM software, infrastructure, and automation solutions in Bulgaria, Croatia, the Czech Republic, Germany, Slovakia, Slovenia, and Ukraine, the company said.Channel partners in the regional markets will receive technical expertise, local support, and accelerator programs, Arrow said.Price: $215.91, Change: $+1.92, Percent Change: +0.90%

$ARW$IBM
Sectors

Sector Update: Tech Stocks Steady Pre-Bell Thursday

Technology stocks were steady pre-bell Thursday, with the State Street SPDR S&P Semiconductor ETF (XSD) inactive and the State Street Technology Select Sector SPDR Fund (XLK) up a slight 0.1%.Cisco Systems (CSCO) shares were down more than 7% even after the company posted higher fiscal Q4 adjusted earnings and revenue.Cellebrite DI (CLBT) stock fell more than 30% after the company reported a decline in Q2 non-GAAP earnings, and issued Q3 revenue outlook below analysts' expectations.IBM (IBM) shares were up more than 1% after the company said it has entered a partnership with OpenAI to help enterprises deploy AI across core business operations, modernize workflows and strengthen cybersecurity.

$CLBT$CSCO$IBM$XLK$XSD
Asia Markets

Update: US Equity Futures Mostly Flat Pre-Bell as Traders Evaluate Further Inflation Data

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Thursday as traders evaluated another key inflation report, after yesterday's July consumer inflation reading matched forecasts.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were down 0.1%.The July consumer price index rose 0.1% as expected, following a 0.4% decline in the previous month, according to data released by the Bureau of Labor Statistics on Wednesday.The US and Iran have made no progress on talks to revive the interim peace deal made in June, Reuters reported Wednesday, citing a senior Iranian source. President Donald Trump said in a post on Truth Social that the US has "total control" over the Strait of Hormuz, to which Iran responded that the waterway is "under Iran's control and management."Traders also digested the latest round of earnings, with Cisco Systems (CSCO) posting higher fiscal Q4 adjusted earnings and revenue.Applied Materials (AMAT) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.40 per share on revenue of $9 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.3% at $86.94 per barrel and US West Texas Intermediate crude 2.5% lower at $81.18 per barrel.The US Producer Price Index, released at 8:30 am ET, held steady in July following a 0.1% decrease in May, compared with an expected 0.2% gain in a survey compiled by Bloomberg. Initial jobless claims climbed to 209,000 in the week ended Aug. 8 from 200,000 in the previous week, compared with expectations for an increase to 202,000.Federal Reserve Cleveland President Beth Hammack, Richmond President Thomas Barkin, and Atlanta Fed Interim President Cheryl Venable are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1.2% higher, Hong Kong's Hang Seng ended 0.2% lower, and China's Shanghai Composite finished 0.5% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.In equities, Cisco stock was down 6.8% after the company reported its fiscal Q4 financial results. Cerebras Systems (CBRS) shares fell more than 15% after the company swung to a Q2 net loss. Coherent (COHR) stock was 6% lower despite the company posting higher fiscal Q4 adjusted earnings and revenue.On the winning side, Brookfield (BN) shares rose 1.5% after the company reported higher distributable earnings and revenue for Q2. Mitsubishi UFJ Financial Group (MUFG) stock was up 2.4% after the company said it was collaborating with Progmat and Digital Asset Holdings on a proof-of-concept to bring Japanese government bond repurchase transactions on-chain through Canton Network. IBM (IBM) shares were up 1.1% after the company said it entered a partnership with OpenAI to help enterprises deploy AI across core business operations, modernize workflows, and strengthen cybersecurity.

Dow JonesNasdaq CompositeS&P 500$AMAT$BN$CBRS$COHR$CSCO$IBM$MUFG
Wire

Rimini Street Names Keith Costello Chief Operating Officer, Alexander Guasch Chief Delivery Officer

Rimini Street (RMNI) said Wednesday that Keith Costello has been named chief operating officer and Alexander Guasch chief delivery officer.Costello previously served as president of enterprise applications, technology, consulting and engineering services at DXC Technology (DXC). Guasch has worked in in senior executive roles at Hewlett Packard Enterprise (HPE), IBM (IBM) and elsewhere, the company said.Rimini Street shares were 0.2% lower in early trading Wednesday.Price: $4.79, Change: $-0.02, Percent Change: -0.42%

$DXC$HPE$IBM$RMNI
Wire

TD Synnex Expands IBM Distribution Coverage to 20 New Countries

TD Synnex (SNX) said Tuesday it expanded its IBM (IBM) distribution network into 20 additional countries in Europe, Asia-Pacific, and Latin America.The broader coverage increases partner access to IBM software and technology services, and also opens access to a dedicated program focused on artificial intelligence, data management and automation technologies, the company said.TD Synnex provides participating partners with technical enablement, financing, pre-sales assistance, and market execution services, the company said.TD Synnex shares were up 1.5% in Tuesday trading.Price: $257.58, Change: $+3.84, Percent Change: +1.51%

$IBM$SNX
Wire

Market Chatter: IBM Taps Canadian Bond Market for First Time Since 2012

IBM (IBM) is offering four- and eight-year notes in the Canadian bond market, its first foray in that market since 2012, Bloomberg reported Monday, citing a person familiar with the matter.IBM didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $237.75, Change: $+2.16, Percent Change: +0.91%

$IBM
Wire

IBM Taps Canadian Bond Market for First Time Since 2012, Bloomberg Reports

IBM Taps Canadian Bond Market for First Time Since 2012, Bloomberg Reports

$IBM
Sectors

Sector Update: Tech Stocks Decline Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.1%.The Philadelphia Semiconductor index was down 0.5%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 6.2%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 1.6%, and AMD fell 3.1%.IBM (IBM) said Thursday that it has agreed to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). IBM shares were down 0.7%.

$AMD$GOOGL$IBM$INTC
Wire

IBM's 2026 Revenue, Free Cash Flow Guidance Ahead of Expectations, RBC Capital Markets Says

IBM's (IBM) free cash flow and revenue guidance for 2026 were both ahead of expectations after a weaker-than-expected Q2, RBC Capital Markets said in a note Wednesday.Analysts said the primary question from investors is whether deals that slipped at the end of Q2 are expected to close in Q3 and the rest of the year. The company provided "very little additional color" to explain deals that slipped due to reprioritization of the capital expenditure budget, the investment firm said.The unchanged free cash flow guidance and "roughly maintained" revenue guidance indicated management's confidence in H2 as 30% to 40% of the deals had been closed, analysts said.The firm said there are customer concerns on pricing dynamics for memory and storage, which has helped IBM's power and storage business.RBC maintained its outperform rating and $270 price target on the stock.Shares of IBM were advancing 0.7% in Thursday trading.Price: $207.19, Change: $+1.42, Percent Change: +0.69%

$IBM
Wire

Top Midday Stories: Alphabet Doubles Q2 Capital Spending; Tesla Reports Earnings Decline, Negative Free Cash Flow

All three major US stock indexes were down in late-morning trading Thursday, as Alphabet (GOOG) and Tesla (TSLA) stocks were down after the two tech giants announced increased spending in artificial intelligence.In company news, Alphabet reported Q2 earnings late Wednesday of $9.11 per diluted share, up from $2.31 a year earlier, and above the FactSet consensus analyst estimate of $2.88. Q2 revenue was $119.80 billion, up from $96.43 billion a year ago and above the FactSet consensus of $117.06 billion. Alphabet's Q2 capital expenditure doubled year over year to $44.92 billion from $22.45 billion, bringing total capital spending for the first six months of the year to $80.60 billion. The company revised its 2026 capital expenditure forecast to between $180 billion and $190 billion in April, up from its previous estimate of $175 billion to $185 billion. Alphabet shares were down 7% around midday.On Thursday, Alphabet's Google was fined a total of 890 million euros ($1.04 billion) by the European Commission after the regulator found the company violated the Digital Markets Act. The Commission fined Google 460 million euros over its Google Search practices and 430 million euros for restricting app developers from steering users to alternative purchasing channels outside Google Play. The European Commission ordered Google to end the violations within 60 days by treating third-party services fairly in search rankings and allowing app developers to freely communicate and promote offers outside Google Play, with failure to comply resulting in periodic penalty payments of up to 5% of Google's total worldwide turnover. The company said it is reviewing the decision and evaluating all options, including an appeal.Tesla (TSLA) reported Q2 adjusted earnings late Wednesday of $0.33 per diluted share, down from $0.40 a year earlier and below the FactSet consensus analyst estimate of $0.55. Q2 revenue was $28.24 billion, up from $22.50 billion a year ago and above the FactSet consensus of $26.42 billion. Operating expenses jumped 47% on a yearly basis to $4.35 billion and rose sequentially as well. The auto manufacturer ended the quarter with a negative free cash flow as capital expenditures "more than doubled" from the previous three-month period, Chief Financial Officer Vaibhav Taneja said during an earnings call,. The company continues to expect its capital expenditures to be at over $25 billion this year, the CFO added. "[Capital expenditures] will grow for the next two or three years as we expand our Robotaxi fleet, expand our production capacity for Optimus, make investments for semiconductor fab, install solar manufacturing capacity and AI compute infrastructure in addition to all the other expansions we'll do for other manufacturing for automotive," Taneja told analysts. Tesla shares were down 14%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported Thursday, citing two unnamed sources familiar with the talks. China is also building out data centers, which require not only advanced chips, but also memory chips and central processing units, according to the report. China-based chip buyers are looking to lock in supplies in one- to two-year supply contracts, which do not fix prices, the report said. Intel shares were down 1.8%, while AMD shares were down 2.3%.RTX (RTX) reported Q2 adjusted earnings Thursday of $1.89 per diluted share, up from $1.56 a year earlier, and above the FactSet consensus analyst estimate of $1.66. Q2 net sales were $24.71 billion, up from $21.58 billion a year earlier and above the FactSet consensus of $22.89 billion. The company raised its 2026 adjusted EPS guidance to between $7.10 and $7.25, from the previous range of $6.70 to $6.90. Analysts polled by FactSet expect $6.95. RTX shares were up 7.5%.IBM (IBM) said Thursday that it signed a definitive agreement to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). Financial terms were not disclosed. Boeing and GM will continue to partner with IBM on quantum applications and advanced technology development. HRL's expertise in silicon-spin qubits and quantum sensing will support IBM's quantum computing plans, IBM said. The transaction is expected to close by the end of Q3. IBM shares were up 0.7%, Boeing shares were 0.3% lower, and General Motors shares were down 3.3%.Price: $318.15, Change: $-23.76, Percent Change: -6.95%

$AMD$BA$GM$GOOG$GOOGL$IBM$INTC$RTX$TSLA
Wire

IBM H2 Recovery Plausible on Early Deal Recapture, Higher Productivity, Morgan Stanley Says

International Business Machines' (IBM) second half recovery scenario is plausible, supported by early deal recapture and improved productivity, but the guidance leaves little margin for error and requires a sharp recovery in its Z business, Morgan Stanley said in a note Thursday.IBM's bull case suggests it has already recouped one-third of the push deals from Q2, subscription-based spending remains strong, recent acquisitions are gaining traction, Consulting is gradually recovering, and mainframe will remain central to its customer base, driving the software flywheel in H2, according to the note.The brokerage estimates the H2 "base case" guidance assumes a meaningful recovery in Software and z17, requiring sequential revenue dollar growth stronger than the last 3 years, even as management acknowledges that the capital expenditure deferral environment and below-normal pipeline yields are expected to persist, the note added.Management said the Q2 deal shortfall was transitory and the Q3 print and Q4 guidance should help clarify the debate, the brokerage said.Morgan Stanley kept an equal weight rating on IBM and lowered its price target to $190 from $293.Price: $206.23, Change: $+0.46, Percent Change: +0.22%

$IBM
Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results
US Markets

Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results

US equity markets were tracking in the red before the opening bell Thursday and oil prices rose amid escalating tensions in the Middle East, while investors digest the latest financial results of Alphabet (GOOG, GOOGL) and Tesla (TSLA).The S&P 500 and the Dow Jones Industrial Average declined 0.2% each in premarket activity, while the Nasdaq was off 0.3%. The indexes ended the previous trading session mostly down.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea on Wednesday, raising concerns that the conflict could spread to a new front in the Middle East, CNBC reported. The UK Maritime Trade Operations said Wednesday that an "unknown projectile" struck a Saudi Arabian oil tanker around 70 nautical miles southwest of Al Shuqaiq, Saudi Arabia.West Texas Intermediate crude oil climbed 3.7% to $89.99 a barrel before the open, while Brent increased 4.4% to $98.18.The US Central Command said Wednesday its forces struck Iran for the 12th consecutive night. In a social media post, President Donald Trump vowed to destroy an Iranian bridge or power plant every time Tehran attacks ships in the Strait of Hormuz.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to have targeted US military equipment in response to recent American strikes, CNN reported Wednesday.Treasury yields were trending higher in premarket action, with the two-year rate rising 1.3 basis points to 4.32% and the 10-year rate adding 1.8 basis points to 4.68%.Alphabet's (GOOG, GOOGL) class A and C shares were down roughly 4% each pre-bell after the Google parent announced in its second-quarter results that its capital expenditure doubled year over year. Tesla's stock dropped 5.9% as the electric vehicle manufacturer recorded an unexpected year-over-year decrease in its second-quarter earnings amid higher expenses related to research and development and artificial intelligence initiatives.ServiceNow (NOW) jumped 7.6% while IBM (IBM) edged down 0.6% early Thursday following their latest financial results.T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), Union Pacific (UNP), Lockheed Martin (LMT), Blackstone (BX), Comcast (CMCSA) and Honeywell International (HON) are scheduled to release their quarterly earnings before the bell, among others. Intel (INTC) and Deckers Outdoor (DECK) are due to announce their results after the markets close.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the Chicago Fed national activity index for June. The Kansas City Fed manufacturing index follows at 11 am.Gold fell 1.5% to $4,092 per troy ounce, while bitcoin slipped 0.2% to $65,732.

Dow JonesNasdaq CompositeS&P 500$BX$CMCSA$DECK$GOOG$GOOGL$HON$IBM$INTC$LMT$NOW$TMO$TMUS$TSLA$UNP
Update: Equities Mostly Lower as Oil Prices Extend Rally
US Markets

Update: Equities Mostly Lower as Oil Prices Extend Rally

(Updates with market moves at the end of the day.)US equity benchmarks ended mostly lower Wednesday ahead of key earnings releases, while oil prices headed for their fourth consecutive day of gains.The Nasdaq Composite fell 0.6% to 25,690.90, while the S&P 500 edged down 0.1% to 7,498.96. The Dow Jones Industrial Average was little changed at 52,218.58. Among sectors, communication services led the laggards, while utilities paced the gainers.Google parent Alphabet (GOOG, GOOGL) and electric vehicle manufacturer Tesla (TSLA) released their quarterly earnings after the closing bell.Texas Instruments (TXN), IBM (IBM), ServiceNow (NOW) and CSX (CSX) were also scheduled to release their results after market close.West Texas Intermediate crude oil was up 2.5% at $86.41 a barrel in Wednesday late-afternoon trade, while Brent advanced 3% to $93.76. Brent briefly traded above $95 earlier Wednesday amid escalating tensions between the US and Iran.In a social media post Wednesday, US President Donald Trump vowed to destroy an Iranian bridge or power plant every time Tehran attacks ships in the Strait of Hormuz.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to have targeted US military equipment in response to recent American strikes, CNN reported. The US Central Command said Tuesday it struck Iran for the 11th consecutive evening.More tankers changed course in the Red Sea Wednesday following threats by Yemen's Iran-aligned Houthis to attack vessels using Saudi Arabian ports, BBC and Reuters reported.Treasury yields were higher, with the two-year rate up 4.5 basis points at 4.31% and the 10-year rate rising 3.3 basis points to 4.66%.In corporate news, shares of Super Micro Computer (SMCI) jumped nearly 20%, the best performer on the S&P 500. The company said in a preliminary business update late Tuesday that it received more than $60 billion in new orders during its fiscal fourth quarter. It raised the gross margin outlook for the period.Alaska Air (ALK) fell 2.4% as the airline late Tuesday issued a downbeat third-quarter earnings outlook and swung to a second-quarter loss.Gold was up 1.5% at $4,135.60 per troy ounce, while silver gained 1.4% to $59.92 per ounce.

Dow JonesNasdaq CompositeS&P 500$ALK$CSX$GOOG$GOOGL$IBM$NOW$SMCI$TSLA$TXN
Wire

IBM Q2 Adjusted Earnings, Revenue Rise; Shares Gain After Hours

International Business Machines (IBM) reported Q2 adjusted earnings late Wednesday of $2.93 per diluted share, up from $2.80 a year earlier.Analysts polled by FactSet expected $2.95.Revenue in the three months ended June 30 rose to $17.16 billion from $16.98 billion a year earlier.Analysts expected $17.48 billion.The company now expects full-year constant currency revenue growth in the range of 4% to 5%.IBM shares rose 3.8% in after-hours trading.

$IBM
Update: Equities Mixed Intraday as Traders Await Alphabet, Tesla Results
US Markets

Update: Equities Mixed Intraday as Traders Await Alphabet, Tesla Results

(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday ahead of earnings releases from technology giants Alphabet (GOOG, GOOGL) and Tesla (TSLA), while oil prices advanced further.The Dow Jones Industrial Average was up 0.3% at 52,372.4 after midday Wednesday, while the S&P 500 edged up 0.2% to 7,520.4. The Nasdaq Composite ticked down 0.1% to 25,812.3. Among sectors, utilities paced the gainers, while consumer discretionary saw the steepest decline.Google parent Alphabet and electric vehicle manufacturer Tesla are scheduled to report their quarterly earnings after the markets close, along with Texas Instruments (TXN), IBM (IBM), ServiceNow (NOW) and CSX (CSX).West Texas Intermediate crude oil was up 2.4% at $86.32 a barrel intraday, while Brent advanced 2.7% to $93.47. Both benchmarks were on track for their fourth consecutive day of gains, with Brent briefly trading above $95 earlier Wednesday amid escalating tensions between the US and Iran.In a social media post Wednesday, US President Donald Trump vowed to destroy an Iranian bridge or power plant every time Tehran attacks ships in the Strait of Hormuz.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to have targeted US military equipment in response to recent American strikes, CNN reported. The US Central Command said Tuesday it struck Iran for the 11th consecutive evening.Four more tankers changed course in the Red Sea Wednesday following threats by Yemen's Iran-aligned Houthis to attack vessels using Saudi Arabian ports, Reuters reported.Treasury yields were higher intraday, with the two-year rate up 3.7 basis points at 4.3% and the 10-year rate rising 1.8 basis points to 4.65%.In corporate news, shares of Super Micro Computer (SMCI) jumped nearly 24% intraday, the best performer on the S&P 500. The company said in a preliminary business update late Tuesday that it received more than $60 billion in new orders during its fiscal fourth quarter. It raised the gross margin outlook for the period.Alaska Air (ALK) slumped 5.3% as the airline late Tuesday issued a downbeat third-quarter earnings outlook and swung to a second-quarter loss.Gold was up 1.8% at $4,151.20 per troy ounce, while silver gained 2% to $60.30 per ounce.

Dow JonesNasdaq CompositeS&P 500$ALK$CSX$GOOG$GOOGL$IBM$NOW$SMCI$TSLA$TXN
Stocks Fall Pre-Bell Ahead of Alphabet, Tesla Earnings
US Markets

Stocks Fall Pre-Bell Ahead of Alphabet, Tesla Earnings

The main US stock measures were pointing lower in Wednesday's premarket activity as investors await the latest financial results of technology giants Alphabet (GOOG, GOOGL) and Tesla (TSLA) and monitor the ongoing Middle East conflict.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% before the opening bell. The indexes ended Tuesday trading higher following a three-day slump.Google parent Alphabet and electric vehicle manufacturer Tesla are scheduled to report their quarterly earnings after the markets close, along with Texas Instruments (TXN), IBM (IBM), ServiceNow (NOW) and CSX (CSX).Philip Morris International (PM), GE Vernova (GE), AT&T (T), Northern Trust (NTRS) and RPM International (RPM) are expected to post their results before the bell, among others.West Texas Intermediate crude oil gained 4.2% to $87.91 a barrel in premarket action, while Brent increased 4.1% to $94.76.The US Central Command said Tuesday its forces completed another round of strikes against Iran as part of attempts to degrade its ability to threaten commercial ships in the Strait of Hormuz.At the ASEAN foreign ministers' meeting in the Philippines on Wednesday, US Secretary of State Marco Rubio accused Iran of not being serious about peace talks with the US, CNBC reported.Rubio reportedly said a key sticking point in talks with Iran was Tehran's demand for the right to control traffic through the Strait of Hormuz, arguing that allowing any country to control an international waterway would set a dangerous precedent.Treasury yields were mixed before the open, with the two-year rate down 0.1 basis points to 4.26% while the 10-year rate inclined 0.2 basis points to 4.63%.In a social media post on Tuesday, President Donald Trump said the import of all generic drugs into the US will be subject to zero tariffs for a two-year period, effective Aug. 1. Tariffs on the drugs would then rise to 100% for one year before increasing to 200% thereafter, according to Trump."This is done in order to reshore generic pharmaceutical production into America, with a penalty to those companies that decide not to build plant and equipment within the stated period of time given to them," Trump said.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Shares of Super Micro Computer (SMCI) jumped 17% before the bell after the company said it received more than $60 billion in new orders during its fiscal fourth quarter and raised its gross margin outlook. Dell Technologies gained 4.6% after closing the previous session up 6%.Alaska Air (ALK) decreased 1.3% as the airline issued a downbeat third-quarter earnings outlook and swung to a second-quarter loss. Rocket Lab (RKLB) advanced 4.5%.Gold traded up 1.2% at $4,124 per troy ounce, while bitcoin was down 0.7% at $65,922.

Dow JonesNasdaq CompositeS&P 500$ALK$CSX$DELL$GE$GOOG$GOOGL$IBM$NOW$NTRS$PM$RKLB$RPM$SMCI$T$TSLA$TXN

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