The Armonk, New York-based International Business Machines Corp (NYSE:IBM) stock plunged around 3.8% in afterhours trading session after reporting Q3 revenue that moved down short of forecasts as clients postponed orders.
Shares of the largest computer-services corporation fell 3.5% to settle in New York at $203.72 at 6:48 PM after trading around $203. Shares of the company surged 15% current year.
International Business Machines reported in a statement after the markets closed that revenue fell 5.4% to $24.7 billion. That failed to meet the $25.4 billion median analyst forecasts, as shown in Bloomberg compiled data.
The computer maker reported that profit without special items moved up 5% to $4.2 billion or $3.62 per share. On average, analysts anticipated $3.61.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Oracle Corporation (NASDAQ:ORCL) fell -2.01% to settle at $31.23, Intel Corporation (NASDAQ:INTC) moved down -2.51% to end at $21.79 while Cisco Systems, Inc. (NASDAQ:CSCO) plunged -0.78% to finish at $18.70 on Wednesday.
International Business Machines Corp. (NYSE:IBM) on Oct 17, 2012 decreased -4.91% to the closing price of $200.63. The overall volume in the last trading session was 12.68 million shares. Its fifty two weeks range was $176.17 – $211.79. The total market capitalization remained at $229.27 billion.
IBM is ahead of its 52-week low with 15.76% and lagging behind from its 52-week high price with -5.27%. IBM’s last month’s stock price volatility remained 1.14%. In its share capital IBM has 1.14 billion outstanding shares, among them 1.14 billion shares have been floated in market exchange. IBM’s stock’s institutional ownership remained 59.64% while insider ownership included 0.06%.
The stock price of IBM is moving down from its 20 days moving average with -3.43% and remote negatively from 50 days moving average with -1.03%. IBM’s current year’s earnings per share experienced an addition with 13.37% while its current quarter performance remained at 3.15%. Company’s beta coefficient included 0.68. Beta factors measure the amount of market risk associated with market trade.
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