Great numbers from IBM, but after a big late-day run-up...the stock is selling off to roughly $132 (as of this writing), near its Friday close ($131.78).
Not only was IBM topline better than expected, ($27.2 billion vs. $26.0 billion), not only was bottom line better than expected ($3.59 vs. $3.47), but guidance was raised for 2010 to AT LEAST $11 billion, from prior guidance of $10-$11.
One key figure: business signings, which exceeded $18 billion. J.P Morgan noting that "any services signings number for IBM above $15 billion should be enough to keep investors interested in the stock."
Meanwhile: check out Cree, up 10 percent after the close, earnings well above expecrtations and also raised guidance for the current quarter, as the business for light-emitting diodes (LEDs) is booming.
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