IBM results a pleasant surprise , 01.19.05, 12:03 PM ET The News and Observer NEW YORK -- IBM topped fourth-quarter expectations by a healthy margin, with strong overseas sales and a weak dollar helping to generate a profit of $3.04 billion. The profit, which amounted to $1.80 per share, was up sharply from a year ago, when IBM posted a net income of $2.71 billion or $1.55 a share for the final three months of 2003. Fourth-quarter revenue rose 7 percent to $27.67 billion compared with the year-ago tally of $25.91 billion. About 4 percentage points of the gain was driven by the rising value of the euro and other currencies against the dollar -- which makes U.S. products less expensive overseas and foreign sales more valuable when converted back to dollars.
**Most of their gain was from currency trade? I read "IBM will SPARK the markets"
IBM down over $1 today. "Good" data today has not....so far.
As I have discussed here, watch the 20 EMA's....I think they will hold the rally...and they are declining.
D
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