NEW YORK ( TheStreet) -- Apple ( AAPL) rose 2.4% to $348.90 in pre-market trading Wednesday after announcing impressive first quarter earnings.

The Cupertino, Calif.-based tech giant posted profit of $6.43 a share, above analyst estimates of $5.37 a share. First-quarter revenue jumped to $26.74 billion from $15.68 billion during the same period last year, beating analyst expectations of $24.4 billion.

IBM ( IBM) was up 2.5% to $154.45 after beating Wall Street's expectations for its fourth-quarter earnings.

Big Blue reported adjusted earnings of $4.18 per share on sales of $29 billion, well ahead of the analyst estimates of a profit of $4.08 per share on revenue of $28.26 billion.

Sprint ( S) rose 1.15% in pre-market trading to $4.41, after announcing it had added a $10 monthly charge to new smartphone users for unlimited data. Under the new plan, effective Jan. 30, the third-largest U.S. wireless carrier will charge $79.99 for unlimited data, texting and phone calls to mobile lines.

Starbucks ( SBUX) said Wednesday it was rolling out technology for customers to pay for their coffee with their cell phones, rather than cash or credit card. Blackberry, iPhone and iPod Touch users can download the free Starbucks Card app and hold their phone in front of a scanner at a Starbucks cash register to pay.

Lenovo said Tuesday it is creating a new business unit to focus on the mobile Internet and digital home, in an attempt to shift away from its core PC business. The company has already released tablet devices and smartphones, called LePad and LePhone.

--Written by Olivia Oran in New York.

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