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IBM's Surprise

IBM up 4 percent after the bell on strong earnings, guidance.

IBM pleasantly surprised on earnings and guidance. Fourth quarter earnings of $3.03 was in line with estimates, and more importantly 2009 guidance of "at least" $9.20 a share was well above consensus of $8.75.

For the fourth quarter, Systems and Technology (hardware) revenue was down 20 percent, but software was up 3 percent and the all-important services (more than half of revenues) sector down 4 percent in both Global Services and Global Technology Services.

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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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