New York, July 19 (BridgeNews) - U.S. stocks ended higher as investors shrugged off a revenue shortfall and cautious outlook from IBM (IBM) and focused on more positive news from the telecommunication, chip and networking sectors. Still, the major averages ended well off their best levels for the day, as investors prepared for another batch of quarterly results after the bell. The Dow Jones industrial average ended up 40.17, or 0.38%, to 10,610.00 and the Nasdaq Composite index was up 30.45, or 1.51%, to 2046.62. The S&P 500 was up 7.31, or 0.61%, to 1215.02.