It was a quite a day on Wall Street as the Dow Jones Industrial Average closed above 22,000 for the first time.
The exact catalysts aren't clear, but for Facebook, a holding in Jim Cramer's Action Alerts Charitable Trust, they could include new rumors that the company may be delving further into hardware with a new video chat device. While Facebook's moves into hardware haven't quite panned out for the social media company -- check Oculus prices and that hefty write-down -- Facebook's massive network of data, and people, for that matter, could give the company a leg up in the home assistant space, which is currently dominated by Amazon.com Inc. (AMZN) and Alphabet -- and will soon include Apple Inc. (AAPL) .
Another large cap that likely should have been in focus today but wasn't in the blizzard of earnings is Verizon Communications Inc. (VZ) , which announced late Tuesday that it would acquire a wireless network in Chicago from WideOpenWest Inc.'s (WOW) for $225 million. The deal builds on Verizon's agressive acquisition push in 2017, and while not as flashy as some targets that have been thrown around, such as Walt Disney Co. (DIS) or Twitter Inc. (TWTR) , the deal helps Verizon build its infrastructure toward developing a 5G network.
For WideOpenWest, a company that made its public debut earlier this year, the deal could signal that the company is on the prowl for acquisitions.
And fine, I can't leave here without at least mentioning Apple and its blowout quarter. But while Wall Street was focused on the revenue drivers and fundamentals, TheStreet delved into the people-centric aspect of the story. Our verdict: Tim Cook is no Steve Jobs, but that's really OK from an investor standpoint.
One more note on Apple, as the company's strong earnings helped buoy many of its suppliers including Qorvo Inc. (QRVO) . While that company is up about 20% year-to-date and there was a strong rally in the first half of 2017, prices have weakened the past two months. Our technical analyst Bruce Kamich writes that "a close below $64 could open the way for a deeper decline to $56 or so."