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FBN’s Tracy Byrnes with news that IBM’s stock is rallying on the company’s quarterly dividend boost, and an afternoon market update.
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I'm Tracy -- of the Fox Business street -- -- -- -- solid corporate earnings is pushing the Dow Industrials higher overshadowing disappointing reports on the US economy.
Right now the Dow up about 96 points.
IBM stock is also climbing higher after the tech giant boosted its quarterly dividend by 13%.
Shareholders can now expect a cash pay out of 85 cents a share and this marks the ninth straight year of double digit percent increases from by the end dividend.
And while she's facing more job cuts -- investment banks reacted fewer deals.
Slumping general reports banks preparing to cut dozens of jobs including -- -- senior bankers.
The general says the -- could come as soon as next month.
This as banks still new regulations lower profits and engineering market for mergers and acquisitions.
And that's the latest from the Fox Business Network giving you the power of.
