Stocks End Higher Despite IBM’s Flop

U.S. stocks ended higher on Monday, supported by strong corporate earnings, even as disappointing results from IBM capped gains in the Dow industrials.The Dow Jones Industrial Average rose 19.26 points, or 0.12%, to 16,399.67. The S&P 500 gained 17.25 points, or 0.91%, to 1,904.01. The Nasdaq Composite added 57.64 points, or 1.35%, to 4,316.07.

Apple Inc. (AAPL) on Monday reported a fiscal fourth-quarter profit of $8.5 billion, or $1.42 a share, on revenue of $42.1 billion. During the year-ago period, Apple earned $7.5 billion, or $1.18 a share, on $37.5 billion in sales.

International Brent crude oil fell on Monday due to speculation that the Organization of Petroleum Exporting Countries (OPEC) will not cut production.