Stocks Rise, IBM Soars on Strong Earnings News
Stocks are rallying on Monday as the prospect of further rate cuts, and IBM’s strong earnings, provided a ray of sunshine for investors. The Dow jumped +109.90, the S&P 500 is up +8.96, and the Nasdaq Composite is up +25.34.
International Business Machines
(
IBM |
Quote |
Chart |
News |
PowerRating) is up nearly 6% after reporting strong preliminary Q4 results (read more). The company said fourth-quarter earnings rose 24% from a year ago, helped by international orders and the weak dollar.
Sears
(
SHLD |
Quote |
Chart |
News |
PowerRating) is down nearly 7% after lowering its Q4 outlook (read more).
Harman International Industries
(
HAR |
Quote |
Chart |
News |
PowerRating) plunged 32% after revising its 2008 earnings guidance.
Gold and platinum hit record highs as the U.S. dollar neared record low territory versus the euro. A number of other commodities continued to climb due to dollar weakness.
PowerRating Charts are now live! Click here to launch them.
| Market Snapshot | ||||||||||||
|
| Strongest/Weakest Industry Groups | ||||||||||||||||
|
| Economic News |
|
|