Notable ETF Movers of the Day 10/17: (XHB) (XME) Higher; (XLK) Lower
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- Wall St futures gain on tech rebound, Middle East peace hopes
- Oracle results beat estimates, but shares fall on plans for $40 billion raise
- Oil falls 1% as traders digest escalation in US-Iran strikes
- Intel rallies as BofA double-upgrades stock on increased CPU, foundry visibility
- Oppenheimer sees little strategic case for Tesla-SpaceX merger
- Needham Starts Hyliion Holdings (HYLN) at Buy
- Alibaba falls on China AI capex report; Citi says selloff is premature
- Crude Inventory Fell 7.2 Million Barrels Last Week, Says EIA
- Oppenheimer Starts SpaceX (SPCX) at Outperform, PT $190, 'space infrastructure appears structurally advantaged'
- Wall Street indexes fall more than 1%, hit by tech, Iran war worries
IBM (IBM) Whacked on Q3 Revenue Miss, But Wall Street Stands by Big Blue
October 17, 2012 12:19 PM EDTShares of IBM (NYSE: IBM) are down 5 percent Wednesday following third quarter results that met on the bottom-line, but missed on the top-line. After digesting the results, asking questions on the conference call and running the numbers through their models, Wall Street analysts have weighed in.
Goldman Sachs - "IBM reported mixed third quarter results with EPS of $3.62 exceeding our estimate of $3.55 and meeting consensus. Overall revenues of $24.75 billion, however, were light of our forecast of $25.12 billion and consensus of $25.38 billion. Nevertheless, we should see a fairly quick recovery in the... More
Wall Street Digests Intel's (INTC) Q3 Results and is Not Impressed
October 17, 2012 10:58 AM EDTShare of Intel (NASDAQ: INTC) are down 2.7 percent intra-day Wednesday following third quarter results and lackluster guidance after the close. Analysts across Wall Street have digested the results, asked questions on the conference call and are now commenting on the results.
Canaccord Genuity - "We reiterate our HOLD rating on shares of Intel as we expect weak demand for PCs to continue to weigh on margins in the form of depressed factory utilization and product mix. Sell-through of emerging Win8 devices is likely to see mixed results as untested... More
Homebuilders Crank Up Production in September
October 17, 2012 9:06 AM EDTHomebuilding stocks are on the fly in early trading on Wednesday after reports showed that new-home construction boomed in the September. Building permit rose to 894 thousand, compared to 810 thousand expected, and housing starts rose 872 thousand compared to 770 thousand expected. This was a 15 percent jump and the largest gain since July... More
