NEW YORK ( TheStreet) -- Apple ( AAPL - Get Report) scorched Wall Street estimates, and revenue soared to more than $46 billion in the fiscal first quarter as sales of the iPhone, iPad, and Macs were extremely strong in the holiday period.

Apple reported earnings of $13.06 billion, or $13.87 a share, on revenue of $46.33 billion for the quarter ended Dec. 31. Analysts polled by Thomson Reuters expected a profit of $10.15 a share on revenue of just more than $39 billion.

Shares were jumping 7.7% to $420.41 in premarket trading on Wednesday.


Roche, the Swiss drugmaker, plans to offer $5.7 billion in cash to buy Illumina ( ILMN - Get Report), the U.S. DNA company.

Roche said it would offer to buy Illumina for $44.50 a share in cash, an 18% premium to Illumina's closing price of $37.68 on Tuesday.

Roche said it's making the hostile bid after it tried to negotiate a deal with Illumina but the U.S. company declined to participate.

Illumina urged shareholders not to take any action on Roche's offer until the board makes a recommendation. Illumina said its board will review the offer.

Illumina was surging 39.8% to $52.69 before the bell.


U.S. Airways ( LCC) handily beat estimates, reporting a fourth-quarter profit despite rising fuel costs. Excluding items, the carrier earned $21 million, or 13 cents a share, higher than Thomson Reuters' forecast of 2 cents.

Revenue rose 8.5% to $3.2 billion, compared to the forecast of $3.1 billion.

"We are very pleased to report a profit for both the fourth quarter and full year of 2011, particularly given the extraordinarily high cost of jet fuel," said CEO Doug Parker in a statement, citing "strong demand for our product and (an) outstanding operations performance."

The company set new records, both for the last quarter and the full year, for total revenue and for passenger revenue per available seat mile.

Shares were rising 4.5% to $6.41 in premarket trading Wednesday.


General Dynamics ( GD - Get Report) reported a decline in fourth-quarter earnings to $603 million, or $1.68 a share, missing analysts' expectations for $1.99 a share. Earnings took a hit from the company's Switzerland-based aircraft completions business with a charge that totaled $189 million.

Revenue rose to $9.14 billion, down from $8.6 billion in the quarter a year earlier and coming in light of the forecast for $9.29 billion.

The stock was losing 1.5% to $71.34.


The maker of glass and ceramic products, Corning ( GLW - Get Report), reported profit in line with estimates as sales rose. Fourth- quarter net income fell to $491 million, or 31 cents a share, from $1.04 billion in the quarter a year earlier. Excluding some items, profit came in at 33 cents a share.

Corning is the world's largest maker of glass for flat panel televisions. Earlier, the company had lowered its forecast because of price declines for liquid crystal display glass and a lost contract in Korea.

Shares were down 5.3% to $14.62.


U.S> health insurer Well Point ( WLP) missed estimates for fourth-quarter earnings and for 2012 profit. The company said that profit came in at 99 cents a share in the last quarter, excluding investment gains and losses. Analysts expected earnings of $1.12 a share.

Shares were down 6.3% to $69.40.


Boeing ( BA - Get Report), the aerospace giant, reported earnings of $1.39 billion , or $1.84 a share, on revenue of $19.56 billion in the fourth quarter. Analysts expected the company to earn $1.01 a share in the fourth quarter.

While the company beat estimates, 2012 guidance was reduced by a projection for a higher-than-expected pension expense and higher tax rate. Boeing expects earnings between $4.05 and $4.25 a share for 2012, lower than the analysts' forecast for $4.96 a share.

Boeing noted its results reflect a 52-cents share impact related to a favorable tax settlement and high pension expense.

Shares were down 1% to $74.60.


United Technologies ( UTX - Get Report), a component of the Dow, saw its profit rise 11% in the fourth quarter as demand increased for aerospace parts from Boeing and Airbus.

The company reported net income of $1.47 a share on sales of $15 billion. Analysts forecast a profit of $1.46 a share on revenue of $15.07 billion.

United Technologies also projected a profit ranging from $5.80 to $6 a share for 2012 on sales of as much as $60 billion, while analysts forecast a profit of $5.72 for the year on sales of $62.9 billion.

The stock was trading sideways at $77.70 a share in premarket hours.


Yahoo! ( YHOO) said Tuesday thatadjusted revenue fell 3% during the fourth quarter on weak display ad sales.

The struggling Internet company reported adjusted earnings of 24 cents a share, flat with a year earlier. Revenue excluding traffic acquisition costs, or TAC, came in at $1.17 billion.

Analysts were expecting earnings of 24 cents a share on revenue of $1.19 billion in the period.

Shares were slipping by 0.9% to $15.55.


Netflix ( NFLX - Get Report) is expected to earn 55 cents a share in the fourth quarter on revenue of $857.9 million.

-- Written by Joseph Woelfel and Chao Deng

>To contact the writer of this article, click here: Joseph Woelfel

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