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IBM's Profit Surges

Texas Instruments beats the Street forecast, PalmOne gets upgraded, plus more of Monday's stocks in the news

Global technology giant IBM (IBM ) posted third-quarter earnings per share of $1.17 (excluding a pension charge) and beat analysts' consensus $1.14 forecast. Its third-quarter revenues were $23.4 billion, vs. $21.522 billion, up 9% since last year.

Texas Instruments (TXN ) reported third-quarter earnings per share of 32 cents, vs. 25 cents a year ago, beating analysts' consensus estimate of 26 cents. The world's largest chipmaker for cellphones also posted third-quarter revenues of $3.25 billion, vs. $2.53 billion, gaining from tax benefits, cost reductions, and increased demand.