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Google and IBM Rise on Strong Results - S&P 500 Index Hovers Near 5-Year Highs
Research Driven Investing Provides Stocks Research on Google and International Business Machines
By: Marketwired .
Jan. 24, 2013 08:20 AM
NEW YORK, NY -- (Marketwire) -- 01/24/13 -- A string of positive economic data helped propel the Dow Jones industrial average and the S&P 500 Index to five-year highs last week. The Dow's and S&P 500's weekly gain of 1.2 percent and 1 percent, respectively, were the third consecutive week of gains. Research Driven Investing examines investing opportunities in the S&P 500 Index and provides equity research on Google Inc. (NASDAQ: GOOG) and International Business Machines Corp. (NYSE: IBM).
A steadily improving U.S. housing market combined with a 5-year low in jobless claims has helped boost investor optimism heading into 2013. Last week, the Labor Department reported initial claims for unemployment benefits declined 37,000 to a seasonally adjusted total of 335,000, which was the largest weekly drop in nearly 2 years. Strong earnings from major companies such as Alcoa and General Electric have also contributed to the markets recent surge. Collectively, companies in the S&P 500 Index are projected to report a 3.8% earnings growth in the fourth quarter, according to S&P's Capital IQ.
"The economy is entering the year maybe not with a running start, but certainly a head start," Jack Ablin, BMO Private Bank's chief investment officer, said in a recent telephone interview, according to Bloomberg. "It helps build a nice story for 2013."
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Shares of Google rose sharply after reporting strong fourth quarter results. "We ended 2012 with a strong quarter," said Larry Page, CEO of Google. "Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year - not a bad achievement in just a decade and a half. In today's multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It's an incredibly exciting time to be at Google."
International Business Machines is an information technology company. The company reported diluted earnings of $14.37 per share in the fourth quarter, compared with $13.06 per diluted share in 2011, an increase of 10 percent. This has been the 10th consecutive year that diluted EPS has experienced double-digit growth.
Research Driven Investing has not been compensated by any of the above-mentioned publicly traded companies. Research Driven Investing is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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