Apple(AAPL) - Get Report shares rose by 4.1% Wednesday, closing at $119.27, after the company reported sales of $51.5 billion in its most recent quarter and a profit of $1.96 a share. Analysts expected the company to generate $51.12 billion in sales and a profit of $1.88 per share.

In its earnings report delivered after the closing bell Tuesday, Apple said it sold 48.05 million iPhones in the quarter, up 22% year over year. The company sold 9.88 million iPads and 5.71 million Macs.

Apple's sales in Greater China, including Taiwan and Hong Kong, nearly doubled in the quarter, accounting for nearly a fourth of the company's total sales, Reuters reported.

Read the full report on Apple's quarterly performance by TheStreet's Technology Editor Chris Ciaccia.


Shares of PayPal Holdings(PYPL) - Get Report were falling by nearly 5% in after-hours trading after the company reported quarterly revenue that missed expectations. PayPal closed at $36.52, up 1.6%, during the regular trading session.

Read this report by TheStreet's Rebecca Borison on what analysts were saying about PayPal ahead of its first earnings release as a new public company.

Shares of Cirrus Logic(CRUS) - Get Report jumped by 7.7% Wednesday, closing at $31.62, ahead of the company's earnings report. The Austin, Texas-based company supplies chips to the Apple iPhone.

Cirrus Logic shares were rising by another 3% in after-hours trading after the company reported fiscal second-quarter earnings and revenue that beat expectations.

The company said it had a profit of 53 cents per share. Earnings, adjusted for one-time gains and costs, came to 65 cents per share, the Associated Press reported.

"The results exceeded Wall Street expectation," the AP said. "The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share. The chipmaker posted revenue of $306.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $300.3 million."

Twitter(TWTR) - Get Report  fell by 1.5% Wednesday, closing at $30.86, after the micro-blogging site forecast fourth-quarter revenue that would miss expectations. The company also reported a net loss for the third quarter of $131.7 million, compared with a loss of $175.5 million a year earlier.

Twitter shares had declined by as much as 11% earlier in the day.

Check out this report from TheStreet's Rebecca Borison on the three biggest takeaways from Twitter's disappointing third-quarter earnings.

IBM(IBM) - Get Report has agreed to buy the digital businesses of privately held Weather Co. In buying the assets, which include the Weather Channel and Weather Underground apps and Web sites, IBM is "attempting to strengthen its ability to crunch data for customers and capitalize on the so-called Internet of Things," Bloomberg Newsreported.

The Weather Channel television property, which isn't part of the acquisition, will license weather forecast data and analytics from IBM under a long-term contract, the news service said.

The Weather Co. is owned by private equity firms Blackstone Group(BX) - Get Report and Bain Capital and Comcast's(CMCSA) - Get Report NBC Universal, which bought the firm in 2008 for about $3.5 billion, according to Reuters.

IBM shares closed at $140.81, up 2.2%. Blackstone Group closed at $34.50, up 1.2%. Comcast closed at $61.94, up nearly 1%.

Japan's Nintendo (NTDOY) reported "a weaker-than-expected operating profit for the July-September quarter but maintained its outlook for the full year, citing firm sales of Nintendo 3DS consoles and its planned entry into smartphone games," Reutersreported.

"Nintendo's fiscal second-quarter operating profit fell slightly to 7.8 billion yen ($64.77 million) from 9.3 billion yen a year earlier. That compared with the average 9.3 billion yen estimate of 19 analysts, Thomson Reuters data showed," according to the news service.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.