IBM Falls Amid Financial Results

U.S. stock markets are set to open flat

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Jan 19, 2018
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U.S. stock markets are set to open flat on Friday after U.S. stocks ended lower yesterday, and reached an all-time high on Wednesday.

Shares of International Business Machines Corp. (IBM, Financialtraded lower on premarket Friday session on the back of the company posting its financial results for the fourth quarter of its fiscal 2017. For the trimester, IBM reported an annual net sales growth of 3.5% to $22.54 billion, while its profit advanced to $5.18 per share. Further, the results exceeded the analysts’ estimates by one cent in EPS and $490 million in revenue.

Ginni Rometty, the company's chairman, president and CEO, was pleased with the quarter's results, principally with the strategic imperatives revenue that grew at a double-digit rate and represents 46% of the total revenue.

Gainers

• Cummins Inc. (CMI, Financial)

• Foot Locker Inc. (FL, Financial)

• NIKE Inc. (NKE, Financial)

• Foot Locker Inc. (FL, Financial)

Losers

• Argos Therapeutic, Inc. (ARGS, Financial)

• Hess Corp. (HES, Financial)

• CenturyLink Inc. (CTL, Financial)

• McCormick & Company Inc. (MKC, Financial)

Global Markets

The main European stock markets traded in the green. The U.K.'s FTSE rose 0.09%, France's CAC climbed 0.32%, Spain's Ibex jumped 0.27% and Germany's Dax swelled 0.92%.

In Asia, Japan's Nikkei gained 0.19%, Hong Kong's Hang Seng rose 0.41%, China´s SSE Composite jumped 0.38% and India’s BSE Sensex advanced 0.71%.

Disclosure: The author holds no positions in any stocks mentioned.