Here are the companies Yahoo Finance is watching today.
A big revenue slide at IBM (IBM). Income came in $900 million below a year ago, even though earnings posted a small beat. It's the third straight quarterly revenue miss for the company. Cloud and business services both delivered results below expectations. IBM says the results reflect "fundamental changes" that will give them more leverage moving forward.
A weak quarter as well at Bank of New York Mellon (BK). It missed on the top and bottom lines, hurt by increasing costs and reduced fees. The CEO blames a "changing mix and cost" of the deposits they handle there. And he called it "difficult" to compare the 2019 results with a year ago because of how strong the markets were in Q1 of 2018.
A mixed picture at United Continental, the parent of United Airlines (UAL). Profit more than doubled from a year ago. However, revenue per passenger was only up about 1%, as the airline grapples with the grounding of those Boeing Max jets.
It's likely we won't be seeing a T-Mobile (TMUS), Sprint (S) merger anytime soon. The Justice Department warns that the $26 billion deal between two of the largest telecom companies in the U.S. is unlikely to be approved in its current form. Antitrust staff says the current structure poses a potential threat to the competition. T-Mobile and Sprint are trying to take on larger rivals AT&T and our parent company, Verizon.
The FAA is backing Boeing's (BA) software updates to its 737 Max airplanes. A review from an FAA panel into Boeing's grounded 737 MAX aircrafts found software updates and training revisions to be "operationally suitable." More than 300 Boeing 737 MAX jets have been grounded after nearly 350 people died in two crashes, one in Indonesia in October, and the other in Ethiopia last month.