Stocks to Watch: GE, IBM, Dell, McDonald's
NEW YORK -- General Electric
The industrial conglomerate earned 34 cents a share in the year-earlier quarter.
The tech giant reported revenue of $23.4 billion, down from $24.7 billion for the same period a year ago, and trailed Wall Street's forecast of $24.6 billion. Excluding items, IBM earned $3 a share, up from $2.78 a share in the prior year's quarter. Analysts were looking for earnings of $3.05 a share.
The move by Blackstone eases the way for founder Michael Dell and his private-equity partner Silver Lake to take Dell private in a $24.4 billion deal.
The Internet giant reported on Thursday earnings of $11.58 a share on revenue of $13.97 billion.. Analysts were expecting profit of $10.66 a share on $14.09 billion in revenue.
Excluding traffic acquisition costs (TAC), revenue was $11.01 billion, as TAC accounted for 25% of advertising revenue. Other revenue from Google, including Nexus hardware, was $1.05 billion, up 150% year over year.
The company also said Chief Financial Officer Peter Klein will be leaving Microsoft at the end of the current fiscal year, after nearly four years in the role and 11 years at the company. Microsoft will be naming a new CFO from its finance leadership team in the next several weeks.
Hamburger chain McDonald's
-- Written by Joseph Woelfel
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