Stock Market Today: Record Intraday Moves for S&P 500 on Apple, Pepsi Earnings
NEW YORK ( TheStreet) -- U.S. stocks closed mixed Wednesday as investors digested earnings from some of the biggest market players including Apple
Apple, the most heavily traded stock of the day, gained 2.6% to $97.19 after reporting third-quarter profit up 12% from a year earlier and revenue 6% higher to $37.4 million.
PepsiCo shares popped 1.9% to $90.82 after the beverage and snacks giant booked stronger-than-forecast earnings and raised its full-year profit outlook.
Microsoft on Tuesday evening reported fiscal fourth-quarter earnings of 55 cents a share, 6 cents less than analysts' estimates, and revenue up 17.3% to $23.38 billion. Microsoft shares ended the session slightly higher, up 0.09% to $44.87.
Delta Air Lines
So far, 149 companies in the S&P 500 have reported earnings with 68.5% beating analysts' expectations.
The S&P 500 climbed by 0.18% to 1,987.01, skimming record highs set earlier in the day. The Nasdaq gained 0.4% to 4,473.70. The Dow Jones Industrial Average ticked 0.16% lower to 17,086.63.
U.S. stocks moved back into record-making territory on Tuesday as positive earnings overshadowed continued unease in Eastern Europe and the Middle East. Boosting the index, Chipotle
S&P Capital IQ reported that S&P 500 second-quarter earnings growth is now expected to come in at 7% year over year, with earnings per share of $28.80. All 10 sectors are anticipated to have grown the second quarter.
Meanwhile, a report from Yardeni Research said that S&P 500 forward earnings rose to a record high last week and have risen in 23 of the past 24 weeks.
Aerospace giant Boeing