NEW YORK (TheStreet) -- U.S. stocks were mixed Wednesday as investors digested a barrage of earnings reports from companies such as Apple
(AAPL) and PepsiCo
PepsiCo shares were popping nearly 4% to $92.48 after the beverage and snacks giant booked stronger-than-forecast earnings and raised its full-year profit outlook. Delta Air Lines
(DAL - Get Report) was adding on more than 3% to $38.80 after reporting that quarterly net income rose 17% to $801 million as passenger revenue increased 9.1% to $9.27 billion. Apple shares were gaining 0.82% to $95.50 after earnings in the quarter ended June 28 rose at the highest rate in nearly two years as the tech giant sold 35.2 million iPhones during the period.
The S&P 500 was higher by 0.1% to 1,985, a record high. The Dow Jones Industrial Average was trading sideways at 17,098.09. The Nasdaq was ticking up 0.34% to 4,471.02. TheStreet's Susannah Lee has Wednesday's opening bell action on Wall Street:
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Aerospace giant Boeing
(BA - Get Report)
hiked its 2014 earnings per share outlook to between $7.90 and $8.10 from its previous forecast of $7.15 to $7.35. Net earnings for the second quarter increased by 52% to $1.65 billion as its backlog remained strong at $440 billion with more than 5,200 commercial airplane orders.
on Tuesday evening reported fiscal fourth-quarter earnings that beat Wall Street expectations.
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Stock Market Today: S&P 500 in Record-Marking Zone as Chipotle, Comcast Boost Profits
U.S. stocks moved back into record-making territory
on Tuesday as positive earnings overshadowed continued unease in Eastern Europe and the Middle East. Boosting the index, Chipotle
gained following better-than-expected earnings reports.
S&P Capital IQ reported that S&P 500 second-quarter earnings growth is now expected to come in at 7% year over year, with earnings per share of $28.80. All 10 sectors are anticipated to have grown the second quarter.
Meanwhile, a report from Yardeni Research said that S&P 500 forward earnings rose to a record high last week and have risen in 23 of the past 24 weeks. The S&P 400 has been up for 15 weeks and at a record high for the past 13 weeks. The S&P 600 has been at a record high for seven weeks after rising for nine consecutive weeks.
will be reporting after the markets close. AT&T is expected by Wall Street to post second-quarter earnings of 63 cents a share on revenue of $33.22 billion. Social networker Facebook, which has worked to shift its business to mobile, is expected by Wall Street on Wednesday to report second-quarter earnings of 32 cents a share on revenue of $2.81 billion.
was also drawing attention
. Activist investor Bill Ackman denounced the weight loss and nutritional supplements company as a pyramid scheme in a three-hour presentation on Tuesday, but Wall Street shrugged off his criticism and sent the company's stock soaring more than 25% to $67.77. Shares were down 3.93% to $65.07 in early trades Wednesday.
-- By Andrea Tse in New York