Apple Inc. (NASDAQ:AAPL) shares jumped nearly 9 percent in early Wednesday trading. The company reported a blow-out earnings report. Net income more than doubled from $6 billion ($6.43 per share) to $13.06 billion ($13.87 per share). Shares of Hewlett-Packard (NYSE:HPQ) and Dell Inc. (NASDAQ:DELL) traded lower on the news.
After reporting an increase of 66 percent in earnings, shares of ConocoPhillips (NYSE:COP) increased 1.8 percent. The company earned $3.4 billion ($2.56 per share), compared to $2 ($1.39 per share) a year earlier. ConocoPhillips is the third-largest U.S. oil company by market value after Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX).
Apple Coverage: Piper Jaffray: Apple Should Trade Above $600 a Share.
Abbott Laboratories (NYSE:ABT) shares slipped 1 percent after profits rise by 12 percent. The company earned $1.62 billion ($1.02 per share). Revenue also increased by 4 percent to $10.38 billion.
Shares of Motorola Solutions (NYSE:MSI) are attracting attention, after the provider of radios and telecommunications network gear reported a 37 percent decrease in net income. The company reported a fourth-quarter profit of $184 million.
Boeing Co. (NYSE:BA) shares fell 1.7 percent after offering a weak outlook. The company reported a 20 percent increase in fourth quarter earnings, but projected per-share earnings of $4.05 to $4.25. Recent estimates placed earnings per share around $4.96. Shares of Lockheed Martin Corp. (NYSE:LMT) and Northrop Grumman Corp. (NYSE:NOC) also decreased .80 percent and 1.5 percent, respectively.
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