NEW YORK (AP) — The Standard & Poor’s 500 index eked out its second small gain of the week Wednesday as investors pored over the latest earnings reports.
TE Connectivity, an electronics company, was the biggest gainer in the S&P 500 after its earnings beat analysts’ expectations and the company posted a strong earnings outlook for the second quarter. But there were also some high-profile disappointments. IBM fell after the computing company reported lower-than-expected revenue in the period. Companies are still increasing their earnings and are forecast to log record quarterly profits for the period, but much of the improvement in recent years has come from cutting costs.