IBM (IBM) missed earnings expectations by a penny a share, even though the company's sales increased 11 percent vs. the analysts' expectations of 10 percent. Income from continuing operations was $1.387 billion, or 79 cents a share, up 8 percent from $1.284 billion, or 73 cents a share, a year earlier. The 19 analysts surveyed by Thomson First Call had expected IBM to report earnings of 80 cents a share on sales of $19.85 billion. IBM shares rose $1.32 to close at $80.07 in regular-session trading on the New York Stock Exchange.
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