After reporting positive earnings for the second quarter on Monday, IBM's stock price inched up yesterday. Before yesterday, IBM's share price had dropped following its last 11 quarterly earnings reports. That’s an epic losing streak for a blue-chip company.
One other stock in the S&P 1500 has dropped after its earnings report for 11 quarters in a row, meaning it has now taken this dubious crown from IBM. That's Arctic Cat, a Minnesota-based manufacturer of snowmobiles and ATVs.
Other long losing streaks: Qualcomm has dropped following its last nine quarterly reports, while Black Box has gapped down eight quarters in a row. Bristow Group, Brinker International and Daktronics have all opened lower following their last seven quarterly reports.