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7:16 a.m. ET, January 23, 2019

IBM bounces 6% higher after strong earnings

From CNN Business' Jordan Valinsky

IBM (IBM) reported stronger-than-expected earnings late Tuesday and its stock in premarket trading is reflecting that: Shares are up more than 6%.

The technology conglomerate's revenue for the fourth quarter came in at $21.76 billion, topping analysts' expectations of $21.73 billion. And, unlike several other companies that adjusted their 2019 guidance downwards, IBM expects its earnings per share will come in slightly higher this year.

"In 2018 we returned to full-year revenue growth, reflecting growing demand for our services and leadership solutions in hybrid cloud, AI, analytics and security," said IBM CEO Ginni Rometty in a statement.

7:19 a.m. ET, January 23, 2019

Capital One shares sink after revenue miss

From CNN Business' Jordan Valinsky

Capital One (COF) shares are sliding more than 5% after missing on expected revenue.

The financial company's fourth-quarter revenue came in at $7.01 billion, a touch lower than analysts' expectations of $7.08 billion.

But it improved its net income from the same period in 2017, reporting $1.3 billion for the fourth quarter of 2018 compared to a $971 million loss a year earlier.

6:56 a.m. ET, January 23, 2019

Day 2 at Davos

From CNN Business' Rishi Iyengar

Global economic concerns continue to take center stage at the World Economic Forum.

Prominent business leaders speaking today include Jack Ma of Alibaba (BABA), BlackRock (BLK) chairman Larry Fink and Salesforce (CRM) chairman Marc Benioff.

Japan's Prime Minister, Shinzo Abe, and German Chancellor Angela Merkel are also scheduled to speak.

And investors will be watching Chinese Vice President Wang Qishan, who will take the stage a day after trade tensions appeared to flare up again.

The White House declined an invitation from Beijing to hold preliminary trade talks ahead of a new round of negotiations scheduled for later this month in Washington, a person familiar with the matter told CNN.

That news sent US stocks plummeting on Tuesday.

They later recovered slightly after White House economic adviser Larry Kudlow denied any meeting was planned.

6:57 a.m. ET, January 23, 2019

Markets check before the bell

From CNN Business' Rishi Iyengar

US stock futures are pointing slightly higher, suggesting a possible recovery from Wall Street's downbeat session on Tuesday.

The Dow Jones industrial average closed down 1.2%, while the S&P 500 was down 1.4% and the Nasdaq fell 1.9%.

Coming up, it's a big day of earnings:

  • Before the bell: Comcast (CMCSA), Kimberly-Clark (KMB), Procter & Gamble (PG) and Progressive (PGR).
  • After the bell: Ford Motor (F), Las Vegas Sands (LVS), Sallie Mae (SLM) and Texas Instruments (TXN).