Checking in on the market this afternoon. Today is Wednesday, January 19th. Stocks continue to trade down sharply across the board. The heat map really in the red today on the back end of a slew of earnings news.
The majority of Tech stocks are in down, matching broader market conditions.
The only bright green ray of light here is IBM, which is up nearly 3.5% after reporting solid Q4 results yesterday.
Microsoft is down over 1%, despite releasing a new app for the ipad or iphone today, called OneNote. The application allows users to take notes, save photos and write up their to-do lists and other tasks. It's available in the iTunes app store, and is free for a limited time.
Meanwhile, shares of Apple (AAPL) have backtracked from a session high of $348.60--the highest 52-week level for the stock. Now trading 0.5% higher as we near the market close. Apple reported after the bell yesterday that Q1 net income jumped to $6 billion, or $6.43 a share, compared with net income of $3.38 billion, or $3.67 a share, last year. Revenue soared more than 70% to $26.74 billion on strong holiday sales of the iPhone and iPad.
Verizon, gearing up for the iphone launch on it's network is up slightly by 0.25%. While Rival AT&T is the only the telecom company in the green here, up 0.34%.
Google, Yahoo, Intel, Cisco and the majority of other tech stocks are trending lower due to bearish sentiment in the overall market.