CCTV Script 23/01/14

This is the script of CNBC's news report for China's CCTV on January 23, Thursday.

Welcome to the CNBC Business Daily.

Earnings were one of the big drivers on Wall Street on Wednesday with the likes of IBM, Netflix and ebay stepping up with results. CNBC's Morgan Brennan has a breakdown:

We're getting deeper into earnings season and a number of stocks moving today on those fourth quarter numbers.

Let's start with IBM. The world's biggest tech services company beat estimates by $0.14 when it reported after the bell on Tuesday. But, revenue missed, thanks to waning demand in markets like China. Fourth consecutive quarter of revenue misses, pulling shares down by more than 3 percent.

A tough day for Advanced Micro Devices as well. The chipmaker also beat in earnings but its forecast for the current quarter not so positive. Warning of a bigger-than-expected fall in revenue for Q1. That sent investors running with the stock plunging 12 percent.

Meanwhile, gaming companies sinking lower after a note from JP Morgan saying gambling in Macau may be cooling. The three largest Las Vegas casino operators get the bulk of their revenue from Macau. MGM Resorts and Las Vegas Sands both losing 2 percent today. Wynn resorts down 1.5 percent.

And lastly, two more companies reporting earnings after the bell. Netflix posting stronger-than-expected numbers. The movie streaming company reporting 79 cents per share on a billion dollars in revenue. EPS and revenue both beating estimates. Stock jumping in after-hours trading in response.

And eBay also posting results. The online giant beat estimate by a penny and it announced a $5 billion buy back. Shares soaring in after hours trading there as well.

But eBay also saying activist investor Carl Ichan has a stake in the company. He's reportedly calling for a PayPal spin off. Ichan's having a very busy day. He's also upping his stake in another tech giant.

And as the earnings season gets into full swing, what should investors be looking out for? ere's what some analysts told us:

[Soundbyte on tape by Jack Bouroudjian, Chief Investment Officer, Index Financial Partners] Going forward it is the forecasts together with the earnings which are more important ... In many cases, topline revenue growth is seen; overall they are pleasing numbers 061746

[Soundbyte on tape by Yoni Jacobs, Chief Investment Strategist, Chart Prophet Capital] The forward P/E is 23, forward price to book is over 12, it pays a lower dividend than the rest of the industry and lower than the S&P 500, and we think that a lot of the growth that investors are buying the stock for is already factored into the price.

Li Sixuan, from CNBC's Singapore headquarters.

Follow us on Twitter: @CNBCWorld

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