International Business Machines is a multinational technology company that specializes in providing a wide range of services and products in the fields of information technology, cloud computing, and artificial intelligence. The company is renowned for its commitment to innovation, offering advanced hardware and software solutions, including mainframe computers, data analytics, and enterprise software. IBM also focuses on consulting services, helping organizations adopt digital transformation strategies and optimize their operations, while maintaining a strong emphasis on research and development to drive future technological advancements. Read More
On Thursday, the major averages closed on a mixed note, with a fall in weekly jobless claims and some positive earnings reports helping the S&P 500 Index and the Nasdaq Composite to hit fresh highs.
Curious about the top performers within the S&P500 index one hour before the close of the markets on Thursday? Dive into the list of today's session's top gainers and losers for a comprehensive overview.
Wedbush analyst maintains Outperform rating and $325 price forecast for IBM. Strong fiscal Q2 results and reaffirmed full-year guidance. AI book of business accelerates to $7.5 billion.
Shares of technology and consulting giant IBM (NYSE:IBM) fell 7.8% in the afternoon session after the company's second-quarter earnings report revealed that revenue from its software division missed analyst expectations, overshadowing an otherwise strong quarter. The technology giant surpassed Wall Street's forecasts for both overall revenue and profit. However, the underperformance in the crucial software segment raised concerns among investors about the growth trajectory for its key artificial intelligence (AI) and hybrid cloud businesses. Adding to the negative sentiment, CEO Arvind Krishna offered cautious commentary during the company's earnings call. This combination prompted a sell-off as the specific miss in a high-growth area outweighed the broader earnings beat.
Let's take a look at the S&P500 stocks that are experiencing notable price gaps in today's session on Thursday. Discover the gap up and gap down stocks in the S&P500 index.
As we await the opening of the US market on Thursday, let's delve into the pre-market session and discover the S&P500 top gainers and losers shaping the early market sentiment.
