After today's market close, we see another group of prominent S&P 500 companies reporting Q2 earnings. Results from IBM Corp. (IBM Quick QuoteIBM - Free Report) , CSX Corp. (CSX Quick QuoteCSX - Free Report) and United Continental (UAL Quick QuoteUAL - Free Report) were among the headline-takers.

Transformation struggles for IBM continue. Shares of the tech major beat estimates on the bottom-line from $2.73 per share expected to $2.97 reported today. But revenues of $19.3 billion missed the $19.46 billion in the Zacks consensus estimate. This marks the 21st straight quarter of declining revenues for Big Blue. That said, the company affirmed fiscal year guidance of $13.80 per share. This would require a strong second-half of 2017 for IBM.

Locomotive, shipping and logistics firm CSX posted impressive results for its Q2: earnings of 64 cents per share easily topped the 59 cents expected, which itself demonstrated nearly 25% year over year growth. Revenues of $2.93 billion also topped estimates. Further, the company announced a new $500 million share buyback program. The lauding of Hunter Harrison as a railroad wunderkind continues.

United Continental, enduring a quarter with plenty of negative press regarding an on-plane incident (or three) this past spring, managed to post a positive surprise on both top and bottom lines: $2.75 per share beat the Zacks consensus by a dime, and revenues of $10.0 billion beat the $9.96 billion expected. PRASM (which had been reported prior to today's earnings report) was in-line for the quarter, as were margins overall, but United shares are selling on the news. The stock had been up 9% year to date.