Josh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to reveal his favorite stocks in the market.
International Business Machines (IBM 12.89%) stock soared 13.6% through 11:10 a.m. Thursday morning after the tech giant beat on both sales and earnings last night.
IBM (IBM) shares jumped 13% to lead S&P 500 gainers Thursday, a day after the company posted fourth-quarter results that topped analysts' estimates as its artificial intelligence (AI)-enabled business surged.
IBM surged 14% on the back of a strong fourth-quarter print as artificial intelligence growth boosted its software business. The move put the stock on pace for its best day on record based on data going back as far as 1972.
International Business Machines Corp (NYSE:IBM) shares surged after the software firm delivered an earnings beat and impressed investors with strong revenue guidance for the year. For 2025, the company said it expects revenue growth of at least 5%, above Street expectations of 3.5% growth to about $64.9 billion.
Big Tech is hitting the earnings confessional hard, with reports from Meta Platforms (META) and Microsoft (MSFT) to unpack.
Strong portfolio mix, operating leverage and yield from productivity initiatives helped IBM beat fourth-quarter 2024 earnings estimates.
Computing behemoth IBM recently released its Q4 results, with revenue and earnings exceeding the street estimates. It reported sales of $17.6 billion and adjusted earnings of $3.92 per share.
Tech giant International Business Machines (IBM 1.32%) reported fourth-quarter and full-year 2024 earnings on Wednesday, Jan. 29 that matched or topped analyst consensus estimates. Adjusted earnings per share (EPS) of $3.92 outperformed analyst expectations of $3.78.
IBM (IBM) shares are jumping nearly 8% in premarket trading Thursday, a day after the company posted fourth-quarter results that topped analysts' estimates as its artificial intelligence (AI)-enabled business surged.
IBM's Q4 report shows strong growth, driven by GenAI tailwinds, with AI bookings exceeding $5 billion, up $2 billion from the last quarter. Management has raised CY25 growth targets, signaling confidence in continued acceleration, leading me to upgrade my growth outlook, revise my price targets higher and reiterate my Buy rating. IBM's Software segment, particularly Red Hat & Automation, is projected to drive strong revenue growth, with management forecasting a 10% increase in CY25.
The IBM stock price is loitering near its all-time high as demand for its AI solutions continue rising. It was trading at $230 on Thursday, a few points below the all-time high of $240, and about 27% higher than where it was on the same day in 2024.