IBM To Tech's Rescue (IBM, CSCO, HPQ, MSFT, DELL, INTC)

Investing

Published: January 14, 2008 7:50 am

IBM (IBM) has come out raised guidance this morning on strong international orders. Big Blue put earnings at $2.80 EPS, and the First Call estimate was $2.60 EPS. and revenues came in at $28.9 Billion versus a $27.8 Billion estimate.

The revenues included a 6-point jump in currency benefits. These numbers were led by strong performance in Asia, Europe and emerging countries. What is perhaps more important than if this is just overseas is that this is acting to help almost anything related to technology in early trading.

Sam Palmisano is also telegraphing the future is not going to hell in a hand basket as well:

“IBM is well-positioned as we begin 2008 as a result of our global business reach, solid recurring revenue stream and strong financial position. We are on track to achieve our long-term earnings-per-share roadmap objective in 2010.”

Shares of IBM closed at $96.67 on Friday and shares are up roughly 7% in pre-market trading at $105.00 with just under two hours to go before the market opens. The 52-week trading range is $88.77 to $121.46, so shares had slid about 20% off of highs.

This is really helping technology after a miserable Friday: Cisco Systems (CSCO) +2.4%; Microsoft (MSFT) +1.5%; Intel (INTC) +1.9%; Hewlett Packard (HPQ) +1.7%; Dell (DELL) +1.9%.

IBM will release more detailed numbers and more detailed guidance on its normally scheduled earnings on January 17, 2008. Apparently someone is tired of day in and day out selling when their business is still strong.

Jon C. Ogg
January 14, 2008

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