IBM Earnings: Shares Sink as Q3 Revenue Disappoints Investors
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Benzinga's Premarket Prep is the #1 go-to source for everything you need to know before the market opens! Join our expert hosts as they break down the latest market trends, analyze key indicators, and provide actionable insights to help you navigate the trading day ahead.
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00:00Let's talk some IBM, another, you know, you can put IBM and Boeing in a similar category
00:05of just stocks that, well, actually, no, IBM's been crushing it recently.
00:11IBM is trading lower this morning, down three and a half percent after the company reported
00:18earnings yesterday.
00:19The EPS came in at $2.30, the consensus was $2.23.
00:25New came in at $14.97 billion, missed by $110 million there.
00:30So IBM taking a slight hit this morning, down about $8.
00:37Joel, are you still in this stock?
00:40No.
00:41IBM?
00:42I'm thinking of Intel.
00:43You're in Intel, right?
00:44Yeah.
00:45Yeah, me and Joel haven't been in IBM for a while there.
00:48We're both stuck in Intel.
00:49I know.
00:50Bag holder Intel.
00:52As much as my long-term portfolio is making new all-time highs, I tell you, Intel is not
00:56helping it whatsoever.
00:57Intel's been a disaster.
00:58IBM would have helped it.
00:59I had the rant yesterday because I had this damn stock at $130, and then I got spooked
01:05out and sold it at $140, and here it is, $232.
01:08We got to go with the Joel Alcon never sell thesis.
01:10So we need to be more like Joel Alcon because he holds.
01:13Yeah.
01:14I got some bruises to prove that.
01:16Dennis, were you trading this one after hours?
01:22Yeah.
01:23I thought about buying it when it got under $220.
01:26It was $219 offer, and I was like, they'd probably bounce this back.
01:30And I really thought about buying it, but I was busy.
01:32I was trading Tesla a little bit.
01:34There was a lot of action last night.
01:36There was quite a bit going on actually, and I was like, IBM would have required a lot
01:39of babysitting.
01:40And I was even trading Tesla too, so that required babysitting.
01:43So I'm like, ah, it was day trading Tesla.
01:47A little lesson here.
01:48Okay.
01:49Yeah.
01:51So, CB and Dennis, Dennis better get the answer.
01:54So let's say we're at the Bright office.
01:58Okay.
01:59And you're sitting in your little corner there.
02:02And we're trading IBM earnings.
02:04Okay.
02:05Or, you know, you're at your desk and you're trading, and I don't care anything about the
02:11earnings.
02:12What would I yell out just immediately after seeing the price?
02:18What would I say to you?
02:20So Joel did this for us every morning.
02:22He is so good.
02:23He would give us this sheet and add the S&P futures with all the levels and all the stars.
02:28And he'd even give us the big stocks for the day and have all the levels and all the stars.
02:32He would have 10-starred that 216 level.
02:35He would have 10-starred that 216 level because he's got the double bottom.
02:39Yeah, the 216 is harder to pick.
02:40There was something easier though, an easier trade than the 216.
02:44Easier one.
02:45Much easier trade.
02:46I see a double bottom 216.
02:47Where was it?
02:49No, no.
02:50See, Dennis, I'm a little disappointed.
02:51Okay.
02:52215.
02:5378.
02:54215.
02:55No!
02:56You're, you're, you're.
02:57AB?
02:58Okay.
02:59This is your chance for redemption.
03:00A level?
03:01Yeah.
03:02A level.
03:03Or what would I yell out?
03:04230.
03:05You die!
03:06AB!
03:07Look at that thing.
03:08Dennis, when that went through 230, I don't know where the next bid was.
03:13There was no bids.
03:15You can't get that far.
03:16That's the problem, Joel.
03:17It's not like you're going to be able to come in and sell 230.
03:26The algos sweep out everything.
03:28When they come in, and I could probably find the tape just to show you, and I could tweet
03:32it out if you want.
03:33When the algos come in, they, like, they see that stock is instantaneously down.
03:38So it's like here, and you think, oh, I'm just going to go like this.
03:41Like old school days, it's missed, and you could hit this bid, hit this bid, hit this
03:44bid, hit this bid.
03:45As a human trader, you could, like, be all over the price discovery process.
03:49Now you can't.
03:50It's, like, here, and now it's here.
03:52So now you can analyze from, at this point in time, what do I do?
03:55And that's why I was showing the 216.
03:56I like that.
03:57There's a double bottom there, and look where it bottoms.
04:00Right around that area.
04:01215 to 216.
04:02Yeah, okay.
04:03Right around there.
04:04So I learned from your levels.
04:05Okay.
04:06I love you guys.
04:07I was just looking at different levels.
04:08AB, you're out of the doghouse.
04:09Triple D, you're permanently in the doghouse.
04:15I love you guys.
04:16I love you.
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