For Immediate Release
Chicago, IL – April 21, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: International Business Machines Corp. (IBM), Intel Corp. (INTC), Advance Micro Devices Inc. (AMD) and Oracle Corp. (ORCL).
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Here are highlights from Tuesday’s Analyst Blog:
IBM Falls Despite Solid Results
International Business Machines Corp. (IBM) reported first-quarter 2010 earnings after the bell that surpassed the Zacks Consensus Estimates. The company also lifted its earnings forecast for fiscal 2010, the third time in a row.
The market seemed quite positive ahead of IBM earnings as shares rose 1.22% and closed at $132.23 yesterday. Despite upbeat results, IBM shares fell 2.31% to $129.17 after hours. Investors hoped for much better results and a stronger recovery. Thus IBM’s earnings beat wasn’t enough to impress Wall Street after hours.
IBM’s results signify that corporate IT spending is picking up and the company is a major beneficiary of the improving economy. The better-than-expected results from Intel Corp. (INTC), Advance Micro Devices Inc. (AMD) and Oracle Corp. (ORCL) is further proof of the rebound in IT spending.
Further, IBM stands to benefit from its increased focus on software and services. We believe IBM’s high-margin recurring revenue business and its increase in profitability will be the main drivers of growth in 2010.
The company provides a broad array of services and software, which has helped it expand its global footprint. IBM has also benefited from new initiatives such as Smarter Planet, Business Analytics and Optimization and Cloud Computing.
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Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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