This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Market Today: Record Intraday Moves for S&P 500 on Apple, Pepsi Earnings

NEW YORK (TheStreet) -- U.S. stocks were mixed Wednesday as investors digested earnings from some of the biggest market players including Apple (AAPL), PepsiCo (PEP) and Microsoft (MSFT).

Apple, the most heavily traded stock of the day, was gaining 2.9% to $97.48 after reporting third-quarter profit up 12% from a year earlier and revenue 6% higher to $37.4 million. 

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.

Microsoft on Tuesday evening reported fiscal fourth-quarter earnings of 55 cents a share, 6 cents less than analysts' estimates, and revenue up 17.3% to $23.38 billion. Microsoft shares were inching 0.11% lower to $44.78.

Delta Air Lines (DAL) was adding 3.6% to $39.05 after reporting quarterly net income 17% higher to $801 million as passenger revenue increased 9.1% to $9.27 billion.

So far, 149 companies in the S&P 500 have reported earnings with 68.5% beating analysts' expectations.

The S&P 500 was higher by 0.21% to 1,987.71, skimming record highs set earlier in the day. The Nasdaq was climbing 0.39% to 4,473.15. The Dow Jones Industrial Average was ticking 0.14% lower to 17,089.26.

Must Read: 

July 23 Premarket Briefing: 10 Things You Should Know

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 (CMG), Comcast (CMCSA) and Verizon VZ 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. 

Aerospace giant Boeing  (BA) 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. The stock is dragging on the Dow as it slips 2.3% to $126.71.

AT&T (T) and Facebook (FB) 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 to report second-quarter earnings of 32 cents a share on revenue of $2.81 billion.

Herbalife (HLF) 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% over the day's session. Shares were pulling back on Wednesday, dropping 3.7% to $65.27.

-- By Andrea Tse and Keris Alison Lahiff in New York.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,087.91 -25.63 -0.15%
S&P 500 1,988.27 +4.74 0.24%
NASDAQ 4,474.90 +18.8840 0.42%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs