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IBM stock and eBay
stock both ventured, at least temporarily, moved into buy range Thursday, following quarterly results that beat expectations.XIBM (IBM) jumped 4.6%, closing at 149.63, on the stock market today, following its late-Wednesday earnings report. The stock broke past a 145.49 buy point in heavy trade.A 4% decline in revenue to $19.16 billion met analyst expectations, while a 3% earnings increase was better than expected. The earnings gain was IBM's first in three quarters.Revenue has fallen for four straight quarters as IBM continues to go through a multiyear transition. The shift has included the divestiture of several old-line operations. It also has resulted in acquisitions, such as the $34 billion purchase of Red Hat, IBM's largest purchase.IBM said it will update full-year 2019 expectations, including the impact of its Red Hat buyout, on Aug. 2. Nomura analyst Jeffrey Kvaal raised his price target on IBM stock to 165 from 160, with a rating of buy.EBay Jumps On EarningsMeanwhile, eBay (EBAY) vaulted 4.9%, near 41, in early trading as second-quarter earnings and revenue topped analyst views.The company retook a buy point in heavy trades. EBay stock has fought since mid-June to clear what IBD MarketSmith chart analysis plots as a 39.24 buy point in a cup-with-handle base. EBay stock ended the day 1.9% higher at 39.77.The company's third-quarter earnings guidance was in line with views, while revenue targets were light.In March, eBay announced plans to appoint a new board member and review assets such as StubHub in order to avert a proxy contest by one of its largest shareholders.Several Wall Street analysts raised their price target on eBay stock, ranging from 38 to 48.KeyBanc Capital Markets analyst Edward Yruma maintained a rating of overweight and price target 45 on eBay stock."EBay's second quarter results point to continued improvements in tactical execution, but gross merchandise volume remains sluggish," Yruma wrote in a note to clients.Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.YOU MIGHT ALSO LIKE:Is Amazon Stock A Buy Right Now? Here's What Earnings, Charts ShowEBay Stock Resilient Ahead Of Earnings; CrowdStrike Builds Bullish IPO BaseUnlock All IBD Premium FeaturesLooking For The Best Stocks To Buy And Watch? Start HereImprove Your Stock-Picking Skills With This Simple 3-Step RoutineThe post IBM, EBay Move Into Buy Range As Quarterly Results Beat Expectations appeared first on Investor's Business Daily. Weiter zum vollständigen Artikel bei "Investors Business Daily"
Quelle: Investors Business Daily