Some positive earnings results helped boost the Dow Jones Industrial Average (DJINDICES: ^DJI) on Wednesday morning. The Dow was up 0.34% at 10:20 a.m. EST.
IBM (NYSE: IBM) was one company that impressed investors, beating analyst estimates across the board and predicting growth this year. Apple (NASDAQ: AAPL) stock was also up following a report that the company is planning to launch a low-cost iPhone in the coming months.
While analysts were expecting IBM to report a revenue decline for the fourth quarter, the tech giant managed to eke out some growth. Total revenue was up 0.1% year over year, and it was up 3% adjusted for currency and divestitures. IBM's revenue beat analyst expectations by $160 million, and adjusted earnings per share of $4.71 was $0.02 higher than expected.