On July 23, IBM rose 5.06% in after-hours trading, trading at $216.11/share, with turnover of approximately $98.17 million. The rebound was triggered by the release of the company's formal Q2 earnings report after the close.

IBM reported Q2 net profit of $2.17 billion, below the market consensus of $2.381 billion. However, the company had already issued a pre-announcement warning earlier this month, which caused the stock to plunge approximately 26% over the prior week, erasing nearly $70 billion in market capitalization. The formal results were largely consistent with the preliminary figures, indicating that the negative impact had been fully digested by the market. Combined with deeply oversold technical conditions, after-hours funds moved in to cover positions.

Multiple institutions maintained constructive long-term views on the stock. RBC Capital Markets retained its outperform rating with a $270 target, Jefferies maintained a buy rating with a $260 target, and Stifel kept its buy rating with a $235 target, providing additional support for the near-term stabilization.

(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.)