Multinationals drive rebound on IBM's strength
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Stocks rose on Monday after strong results from IBM  relieved concerns about the global economy and spurred a broad rebound from last week's slide.
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A strong performance from the truckmaking sector helped European equity markets drive higher by late-morning on Tuesday while Getronics jumped sharply after the Dutch computer services company received a potential takeover approach.
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IBM and the rest of the tech industry might have a better year than most onlookers expected. IBM's third-quarter earnings rose 15% from a year earlier, to &#36;1.17 a share, excluding a one-time &#36;320 million charge to settle a lawsuit over its pension plan. That beat analysts' average estimate by 3 cents a share.
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On a busy day for corporate earnings, European equity markets moved higher by mid-morning on Wednesday, helped by strength in the support services and software sectors and overnight gains on Wall Street and in Asia.
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IBM , the world's largest technology services company, on Wednesday posted a 12 percent jump in quarterly profit and raised its 2007 earnings forecast as revenue surged on software-company acquisitions.
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Stock index futures rose sharply on Monday, signaling Wall Street will rebound from last week's losses, after IBM  reported higher-than-expected preliminary financial results, lifting the technology sector.
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IBM has bolstered its presence in Scandinavia and beyond with two major IT services contracts and acquisitions involving Danish companies.
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Computer giant International Business Machines Corp. on Monday posted a slight rise in third-quarter profit and topped Wall Street expectations, helped by strong demand for services and computer hardware across all of its geographic regions.
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Investor's Business Daily - IBM exceeded analysts&#39; second-quarter earnings forecasts Wednesday on strong software sales, driving up its stock price 3% in after-hours trading.
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McDonald's Corp. posted its strongest quarterly results Tuesday since beginning a recovery more than three years ago, boosted by resurgent European restaurants that contributed to a 57 percent jump in profit.
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BOSTON -- Already on a tear lately, shares of International Business Machines Corp. got another bounce after the technology company reported a 12 percent jump in quarterly earnings and improved its outlook for the rest of the year.
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IBM , the world's biggest computer maker, has regained its position at the head of the Top 500 list of supercomputer installations, dislodging rival NEC Corp. (6701.T) of Japan, the company said on Monday.
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IBM is looking to the developing world to fuel its growth.
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Stocks ended higher on Monday, helped by strong results from IBM  that eased worries about the economy and sparked a rebound after last week's losses.
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IBM  reported a better- than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 5 percent and spurring a broader tech rally.
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Wall Street rose sharply in early trading, with solid preliminary results from IBM encouraging investors to buy back into the stock market after last weekâs rout.
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US stocks rebounded on Monday after IBM surprised the market with some better than expected preliminary quarterly earnings but retailers remained under pressure after a profit warning at Sears.