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) 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:
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.
Microsoft (MSFT) on Tuesday evening reported fiscal fourth-quarter earnings that beat Wall Street expectations.