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NEW YORK (
TheStreet) -- Major U.S. stock averages advanced Wednesday, helped by upbeat earnings from high-profile companies and a debt-ceiling deal.
Apple(AAPL - Get Report) shares jumped 1.8% to $514 ahead of the company's fourth-quarter earnings report. After the stock market closed, the tech giant said profit was $13.81 a share, beating analysts' estimates of $13.53 a share, while revenue was $54.5 billion, trailing estimates of $54.9 billion. The shares subsequently tumbled, trading as low as $485.
United Technologies(UTX) edged up 0.7% after the industrial giant's earnings Wednesday.
Google(GOOG) shares jumped 5.5% and
IBM (IBM) shares popped 4.4% after their fourth-quarter reports Tuesday evening.
Dow Jones Industrial Average rose 67 points, or 0.5%, to 13,779. The blue-chip index climbed for the ninth session out of 10, a streak last seen in February 2011.
Breadth was negative, with losers outnumbering winners 17 to 12.
Coca-Cola(KO) finished unchanged.
Caterpillar(CAT) shares were declining the most.
McDonald's(MCD) shares were up 0.6% after the company posted fourth-quarter earnings of $1.38 a share on revenue of $6.95 billion, topping the Wall Street consensus estimate of $1.33 a share on revenue of $6.89 billion as the company focused on offering affordable menu options. For the near-term, the restaurant chain expects revenue and profit growth to remain pressured, with January's global comparable sales expected to be negative.
The top percentage blue-chip winners were IBM,
IBM topped Wall Street's fourth-quarter earnings estimates, boosted by strength in its software business.
United Technologies posted fourth-quarter earnings Wednesday of $1.04 a share on revenue of $16.4 billion, versus the average analyst expectation of earnings of $1.03 a share on revenue of $16.63 billion. The company reaffirmed its 2013 earnings per share outlook of $5.85 to $6.15 a share, saying that it was seeing improvements in order trends.
Microsoft shares rose 1.7%. Reports said Tuesday that Microsoft
could invest as much as $3 billion in an eventual takeover of struggling PC maker Dell(DELL). Dell shares were down 0.3% after jumping Tuesday on the reports.
S&P 500 added 2 points, or 0.2%, to 1,495. The
Nasdaq was higher by 10 points, or 0.3%, to 3,154.
In the broad market, sectors were mixed, led lower by consumer cyclicals, utilities and basic materials. The technology, services and consumer non-cyclicals climbed.