By Steven Russolillo - WSJ
Apple shares soared $29.57, or 5.1% to $609.70, the biggest one-day dollar advance in its history. The stock snapped a five-day losing streak and reclaimed all it lost in yesterday’s pummeling. It also led the tech-heavy Nasdaq Comp to a 1.8% gain, its best advance of the year.
Today’s advance added about 27.57 billion worth of market capitalization to Apple, according to WSJ Market Data Group. That is roughly Dell’s entire market cap.
By Paul Vigna - WSJ
Intel’s out. EPS was 53 cents/share, net income $2.7 billion, on revenue of $12.9 billion. The EPS is above Street views (50c), but below last year’s number (56c). Revenue was up marginally from $12.8 billion.
But the stock’s down 2% in late trading. Maybe investors don’t like the second-quarter outlook. Intel pegged second-quarter revenue at $13.6 billion — give or take $500 million.
IBM’s out, too. Earnings came in at $3.1 billion, or $2.61/share, up 13% from a year ago. That’s above both Street views and last year’s earnings.
Revenue was $24.7 billion, flat with a year ago, and just off Street views of $24.8 billion. Given that last quarter’s revenue growth slowed, this is a source of concern.
It’s worth asking how the company’s posting that kind of earnings growth without any contribution from revenue, and how they plan to change that dynamic.
Stock’s down 2.1% in late trading, even though the earnings were pretty comfortably above both last year’s earnings and Street consensus.
The company projected 2012 earnings would come in at $15/share (non-GAAP), above Street consensus of $14.93. They certainly didn’t say anything about acquisitions in the press release, but the conference call began at 4:30, so M&A’s likely to a topic