Dow Jones Jumps 350 Points; IBM Stock Tumbles After Earnings; Intel to Sell Memory Chip Business

The stock market was rallying hard on Tuesday, apparently due to optimism over a potential stimulus deal. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 1.25% at 1:30 p.m. EDT; the other major indexes had gained similar percentages.

Two Dow components that failed to join in on the party were International Business Machines (NYSE: IBM) and Intel (NASDAQ: INTC). IBM stock slumped after the tech giant reported results and failed to provide any guidance, and Intel stock was down after the company struck a deal to unload its NAND chip business.

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Source Fool.com