Shares of International Business Machines Corp (IBM) fell around 7.70% in pre-market trading Monday after the company reported weaker-than-expected fiscal third-quarter results.
The tech giant reported earnings excluding items of $3.68 a share, $0.64 worse than the consensus estimate and 10% lower compared with operating diluted earnings of $4.08 per share in the third-quarter of 2013. Revenues fell 4% year/year to $22.4 billion versus the $23.37 billion consensus. The Big Blue said it is “disappointed” with its performance.
IBM, currently valued at $181.61B, has a median Wall Street price target of $195.00 with a high target of $225.00. In the past 52 weeks, shares of the IT products and services company have traded between a low of $172.19 and a high of $199.21 with the 50-day MA and 200-day MA located at $189.24 and $189.05 levels, respectively. Additionally, shares of IBM trade at a P/E ratio of 1.17 and have a Relative Strength Index (RSI) and MACD indicator of 36.94 and -4.50, respectively.
IBM currently prints a one year return of about 5.87% and a year-to-date loss of around 1.84%.
Shares fell $14.05, or 7.72%, in recent trading.
NewLink Genetics Corporation (NLNK) shares are currently printing a large uptick, gaining 31% from the previous close. The spike came after the company said it entered into an exclusive worldwide license agreement with Genentech, a member of the Roche Group AG, to develop NLG919, NewLink’s IDO pathway inhibitor, making the Ebola vaccine developer eligible to receive over $1 billion in milestone payments.
“This alliance enables us to accelerate and expand development of NLG919 while we continue to advance our other promising clinical and preclinical development programs,” Dr. Charles Link, Chairman and CEO of NewLink said in a statement. “Genentech’s oncology development expertise, commercial leadership and history of successful strategic alliances make it an ideal collaborator to bring the potential benefits of NLG919 to patients.”
In the past 52 weeks, shares of Ames, Iowa-based firm have traded between a low of $16.00 and a high of $53.48 and are now at $37.90. Shares are up 56.95% year-over-year and 33.35% year-to-date.
The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.
SinoCoking Coal and Coke Chemical Industries, Inc. (SCOK) is a big mover this pre-market session with its shares soaring 51%. The Chinese producer of clean energy products today announced that as of the morning of October 18 China time its aboveground facility for the conversion of carbon dioxide into clean-burning syngas had begun operations and was producing and transporting syngas to customers in and around Pingdingshan.
SCOK shares recently gained $1.15 to $3.50. In the past 52 weeks, shares of Pingdingshan, China-based coal and coke producer have traded between a low of $0.83 and a high of $9.37. Shares are up 75.37% year-over-year and 102.59% year-to-date.
iBio, Inc. (IBIO) is one of today’s notable Ebola-related stocks in decline, down nearly 21% to $2.54. The plunge came after the World Health Organization “officially declare[d] the Ebola outbreak in Senegal over and commends the country on its diligence to end the transmission of the virus”.
Shares of hazmat-suit makers Lakeland Industries (LAKE) and Alpha Pro Tech (APT) seem to also be negatively affected by the news, as both tickers are down 9.60% to $15.35, and 9.73% to $5.01, respectively.
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