On July 28, IBM rose 3.19% in regular trading, trading at $223.97/share, with turnover of $946 million. The stock's rebound was driven by a broad rally across the IT consulting sector, with peers Accenture gaining 7.47% and Cognizant rising 6.84%, creating positive sector momentum.

The recovery comes after IBM reported Q2 earnings on July 22 that showed revenue of $17.16 billion, up roughly 1% year-over-year, while Z-series mainframe revenue plunged 42%. The company lowered its full-year constant currency revenue growth guidance from over 5% to a range of 4% to 5%. However, since IBM had issued a profit warning ahead of the formal release, the negative impact was largely priced in, setting the stage for a technical rebound. Management noted that approximately one-third of deals that slipped in Q2 have already closed, and maintained its full-year free cash flow growth target of $1 billion.

Additionally, IBM signed a definitive agreement to acquire HRL Laboratories from Boeing and GM to bolster its quantum computing capabilities, and secured a NT$324 million contract with Chang Hwa Commercial Bank for an online banking platform upgrade.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)