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IBM revenue falls for 12th quarter

Monday, April 20, 2015 - 01:33

Shares of IBM fell after hours after a revenue miss, and a warning about currency headwinds. Stocks rose in Monday's regular trading session. Bobbi Rebell reports.

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After the bell, shares of IBM under pressure. Revenue came in lighter than forecasts, and the company warned the strong dollar would hurt earnings this year. Stocks rebounded from Friday's steep selloff. Providing the power: strong earnings and a move by China to jump start its slowing economy. Big gains in trading revenue helped boost Morgan Stanley's quarterly profit 60 percent. It was the last of the major banks reporting this earnings season. S&P Dow Jones Indices' Howard Silverblatt: SOUNDBITE: HOWARD SILVERBLATT, SENIOR INDEX ANALYST, S&P DOW JONES INDICES (ENGLISH) SAYING: "I wouldn't read too much into the initial companies which are more heavily financial at this point in time. But over the next two weeks, we will get a much better gauge of what happened, and, more importantly, what companies think are going to happen in the second and third quarters." Superheroes outmuscled analysts, helping revenue surge at toymaker Hasbro, a decline had been expected. Boys' toys based on Marvel's big heroes fueled sales. Hasbro was the day's top gainer on the S&P 500. The biggest loser on that index: Royal Caribbean Cruises. A strong dollar and higher fuel prices pushed the cruise operator to cut its profit forecast for the year. Halliburton's shares rose even though the oil driller swung to a quarterly loss from a profit last year. Cost cuts helped adjusted earnings crush analysts estimates. Over in Europe, that move by China's central bank also helped shares rebound and regain some of Friday's losses.

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IBM revenue falls for 12th quarter

Monday, April 20, 2015 - 01:33