Tesla, IBM and Meta lead most of Wall Street
· 15m · on MSN
Tesla, IBM and Meta lead most of Wall Street higher
Here’s what Wall Street is saying about IBM ahead of earnings
IBM (IBM) is scheduled to report results of its fiscal fourth quarter after the market close on January 29, with a conference call scheduled
· 6h
Wall Street rises as gains in Meta, Tesla offset Microsoft slump
Adjusted per-share earnings came ahead of Wall Street estimates.
IBM stock has risen by 22 percent over the past year, with shares rising by nine percent on the morning following the earnings announcement.
Evercore raised its price tag on IBM stock from $240 to $275, retaining its Outperform rating. Software, however, appears to be the only growth business. It reported $7.9 billion in revenue in Q4, up 10% YoY.
IBM added that the company continues to 'gain momentum' in the generative AI business, with one-fifth of the AI business coming from Software, and the remaining from Consulting.
Microsoft shares slumped on Thursday after the company's earnings left investors disappointed overnight. Meanwhile, Meta and Tesla traded higher, having shaken off the initial weakness that greeted their latest results.
International Business Machines Corp. gained in early trading after projecting strong revenue growth in the new fiscal year and a jump in AI-related bookings.
International Business Machines (IBM – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst
The shares rose 10% in extended trading. It's the largest rise in IBM's stock price since March 2020. Here's how the company did versus LSEG consensus expectations:
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