Stocks ended the day up for the second straight day led mostly by techs. Investors also kept a close eye on additional testimony from Ben Bernanke in which he continues to pledge the central bank is ready to inject more stimulus as needed. Thanks to the past few days of gains, the three major indexes are positive for the month.
Earnings continue to come at a fast pace with IBM and eBay reporting today after the market close.
International Business Machines Corp. (NYSE:IBM) reported second quarter revenue of $25.8 billion and net earnings of $4.1 billion thanks to strong demand for software services. The company’s earnings per share came in at $3.51/share, beating analyst estimates of $3.43/share. Revenue was a bit lower than expected, coming short of expectations of $26.27 billion. IBM shares are up nearly 2% in after hours trading following second quarter earnings.
eBay Inc (NASDAQ:EBAY) saw revenue jump 23% in the second quarter to $3.4 billion. Profit also saw a 16% jump to $730 million, or $0.56 per share. Analysts were expecting revenue of $3.4 billion and EPS of $0.55 per share. EBAY shares are up more than 4% in after hours trading at $42.47 following these results.