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Intel reported non-GAAP earnings of $2.9 billion, or 56 cents a share, on revenue of $12.9 billion for the first quarter; analysts were calling for profit of 50 cents a share in the March-ended quarter on revenue of $12.84 billion.

For the second quarter ending in June, Intel said it expects revenue of $13.6 billion, plus or minus $500 million, which compares to the current Wall Street consensus view for revenue of $13.45 billion. Gross margin for the second quarter is forecast at between 62%-63% on a non-GAAP basis, a decline from a non-GAAP gross margin of 65.1% in the first quarter.

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IBM(IBM) missed Wall Street's first-quarter revenue forecast.

IBM, on Tuesday, reported revenue of $24.67 billion and earnings of $2.78 a share, compared with $24.6 billion and $2.41 in the same period last year. Analysts surveyed by Thomson Reuters expected IBM to report revenue of $24.77 billion and earnings of $2.65 a share.

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Two components of the Dow Jones Industrial Average issue results on Wednesday: American Express(AXP) and United Technologies(UTX) .

-- Written by Joseph Woelfel

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