The markets enjoyed another strong day today, but the focus was on the Dow 30 which saw a gain of 160 thanks to IBM's earnings beat. The S&P 500 also had a good day with a gain of 1, and the Nasdaq 100 added 1, though traders continue to note the slowing volume at these highs. Tomorrow the focus will continue to be on earnings along with unemployment claims, and manufacturing numbers.
IBM (NYSE: IBM) accounted for over 100 points on the Dow 30 today as the company reported their earnings that beat analysts expectations. The release showed a beat on both the top and bottom lines in the third quarter with earnings of $3.30 a share and revenue of $19.15 billion. Analysts had their typical bearish outlook on this name and were looking for a profit of $3.28 and sales of $18.6 billion. Shares of IBM skyrocketed 8.86% today, breaking through the 200 day moving average for the first time since April.
Ford (NYSE: F) shares were lower by 0.65% today as the company announced it is recalling 1.3 million F-150 and Super Duty trucks in North America due to a "latch problem with its side doors." Ford stated that it estimates the recall to cost the company $267 million to fix the issue. Shares have been higher recently, adding over 18% since hitting a low back in mid-August.
eBay (NASDAQ: EBAY) was higher by 1.28% ahead of its earnings release after the bell today. Analysts have noted that the focus will be on the huge marketing campaign by the company and whether customers are responding to it or not. Their recent marketing push has offered price matching and guaranteed three-day delivery. As far as the company's fundamentals, analysts will be looking for earnings per share to come in at 48 cents with revenue of $2.37 billion. The stock is currently higher on the year by 27%.