Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

Inside the Market

Up-to-the-minute insights
on developing market news

Entry archive:

A pedestrian walks past International Business Machines Corp. offices in New York. IBM benefits from long-term customer relationships that generate recurring revenue. (Scott Eells)
A pedestrian walks past International Business Machines Corp. offices in New York. IBM benefits from long-term customer relationships that generate recurring revenue. (Scott Eells)

At midday: Technology stocks rally after earnings Add to ...

North American stocks were mixed in midday trading on Wednesday, even though key U.S. technology names rallied on strong earnings and forecasts.

Shortly after noon, the S&P 500 was almost unchanged, at 1493. The blue-chip Dow Jones industrial average was up 61 points or 0.5 per cent, to 13,773. In Canada, the S&P/TSX composite index was down 18 points or 0.1 per cent, to 12,807.

More Related to this Story

The Federal Housing Finance Agency reported that U.S. home prices rose 5.6 per cent in November, year-over-year, providing additional evidence that the country’s housing market continues to recover from a deeply depressed state.

Within the S&P 500, technology stocks showed the biggest gains, rising 1.1 per cent.

International Business Machines Corp. rose 5.1 per cent – marking its best one-day move in nearly four years – after the technology giant provided a better-than-expected forecast on Tuesday evening, when it also released upbeat earnings.

Google Inc. rose 6.5 per cent after the technology and search engine company reported its quarterly results on Tuesday evening. It reported earnings of $10.65 (U.S.) a share, after excluding some one-time items, which topped expectations.

Apple Inc. rose 0.8 per cent ahead of its quarterly financial report, due to be released on Tuesday after markets close.

Elsewhere in the S&P 500, utilities fell 0.5 per cent, consumer discretionary stocks fell 0.4 per cent and financials fell 0.2 per cent.

Coach Inc. fell 15 per cent after the handbag retailer reported quarterly earnings and sales that missed expectations, placing most of the blame on slow growth in the U.S. market.

Within Canada’s benchmark index, telecom stocks rose 0.5 per cent and energy stocks rose 0.1 per cent. Financials fell 0.2 per cent and materials fell 0.7 per cent.

In Europe, the U.K.’s FTSE 100 rose 0.3 per cent and Germany’s DAX index rose 0.2 per cent.

Follow on Twitter: @dberman_ROB

 
  • GOOG-Q
  • IBM-N
  • COH-N
  • AAPL-Q
  • TSX-I
  • SPX-I
  • DJIA-I
Live Discussion of GOOG on StockTwits
More Discussion on GOOG-Q
Live Discussion of IBM on StockTwits
More Discussion on IBM-N
Live Discussion of COH on StockTwits
More Discussion on COH-N
Live Discussion of AAPL on StockTwits
More Discussion on AAPL-Q
Live Discussion of TSX on StockTwits
More Discussion on TSX-I
Live Discussion of SPX on StockTwits
More Discussion on SPX-I
Live Discussion of DJIA on StockTwits
More Discussion on DJIA-I

More Related to this Story

For Globe Unlimited Subscribers

Business videos »

Most popular videos »

Highlights

Most Popular Stories