All major U.S. markets closed higher on Wednesday led by news from the deals front and earnings that pleased investors. Shares of both Apple (AAPL) and IBM were up after both companies announced a partnership to exclusively sell iPhones and iPads with apps geared toward enterprise clients. Intel (INTC) also joined the rally, forecasting third-quarter revenue above Wall Street's expectations. Time Warner (TWX) was the best performer on the S&P 500 after it rejected a takeover bid from 21st Century Fox (FOXA) for $80 billion dollars. Yahoo! (YHOO) and Bank of America (BAC) lost ground after disappointing results. More earnings on tap for tomorrow include Google (GOOG), Morgan Stanley (MS) and UnitedHealth (UHC). TheStreet's Susannah Lee has the details.