NEW YORK (TheStreet) -- U.S. equity markets continue to move higher on a busy Wednesday trading session. "Mad Money" Research Director Nicole Urken details the top stories.
Bank of America (BAC) reported strong fourth quarter earnings results. Bank of America made 29 cents per share on $22.3 billion in revenues, beating analysts' estimates of 26 cents per share on $21.1 billion in revenues, she said.
Shares of Tesla Motors (TSLA) enjoyed a nice boost on Tuesday as the company announced that it delivered 6,900 Model S vehicles in the fourth quarter. The figure is 25% higher than the previous quarter and 20% higher than Tesla's previous guidance.
Tesla is once again higher on Wednesday as the company announced it will deliver its first vehicle in China this March.Apple (AAPL) is higher by roughly 2%, as CEO Tim Cook held a press conference in China to discuss the new deal with China Mobile Limited (CHL), Urken said. The iPhone for China Mobile goes on sale Friday, while the company recently shipped 1.2 million devices in pre-orders. Finally, General Motors (GM) has had a busy couple of days. Wednesday marks the first day as CEO for Mary Barra. Shares were initially higher on Tuesday, after the company initiated a $1.20 per share annual dividend. The $2 billion annual payout gives the stock a 3% yield, Urken added.
However, a catious outlook on pre-tax profits and margins have share slightly lower on the session. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell