The slew of earnings ahead of the bell Thursday includes DuPont, Blackstone, United Health, Sherwin Williams. Dupont and Chipotle Mexican Grill. Chipotle was up more than 5.5 percent after its earnings, which were slightly below expectations but sales jumped 13 percent.
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IBM was down about four percent in early trading after it reported earnings in line with the $2.54 per share expected, but revenues of $22.5 billion were below analysts' estimates of $22.9, according to Thomson Reuters. IBM earnings were 15 percent below the $3 per share seen a year ago and revenues were below the $23.4 billion last year.
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Google also got initially slammed, but its stock recovered about half its losses and was trading down about 2.5 percent pre-market. Google's $6.27 per share and $15.4 billion in revenues, fell short of the $6.40 a share and $15.5 billion expected.
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"Just when you thought it was safe to go back in the water," said Art Hogan, chief market analyst at Wunderlich Securities. "The problem with this is during the momentum new tech sell off, some of the old techs were catching a bid and that investor psychology of buying reasonable valuation was working its way into the old technology names. I'm not sure what happens now."
American Express stock fell about a half percent after hours Wednesday, when it too missed on the revenue side. It reported earnings three cents better-than-expected at $1.33 per share, up from $1.15 per share last year. Its revenues increased to $8.19 billion from $7.88 billion but were shy of the $8.35 billion expected.
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Bump in the road
Stocks surged Wednesday, spurred first by better-than-expected Chinese economic growth and then encouraged by a dovish tone from Fed Chair Janet Yellen. The Dow was up 162 at 16,424 and the S&P 500 was up 19 at 1862. The Nasdaq was up 52 points to 4086 in a strong rebound following a big turnaround on Tuesday.