Updated

Updated · CNBC · Jul 14

IBM Plunges 17% After Q2 Miss as Ericsson Drops Nearly 10% on SEK52.70 Billion Revenue

Updated

Updated · CNBC · Jul 14

IBM Plunges 17% After Q2 Miss as Ericsson Drops Nearly 10% on SEK52.70 Billion Revenue

1 articles · Updated · CNBC · Jul 14

IBM sank 17% in premarket trading after forecasting preliminary Q2 adjusted earnings of $2.93 a share, below FactSet expectations of $3.01.
Ericsson fell nearly 10% after reporting SEK52.70 billion in revenue, missing the SEK53.94 billion consensus, while adjusted gross margin came in at 48.4%.
The sharp tech declines contrasted with steadier bank reactions: JPMorgan slipped slightly, Bank of America was flat and Wells Fargo fell 1% despite all three posting results above analyst estimates.
Apple also lost about 1% after KeyBanc downgraded the stock to underweight and set a $250 target, citing pressure from consumers tightening spending as prices rise.

Sources

Left100%

Is an analyst downgrade a real threat to Apple, or just noise the resilient tech giant will ignore?

Why are top banks stumbling in the market after posting stronger-than-expected Q2 earnings?

With a huge AI backlog and a major acquisition, why did IBM's stock just plummet 17%?

1 total

Left100%