Apple (AAPL) stealing the show this earnings season.
Shares of the tech titan were soaring in early trading after it reported its best quarterly profit of any company in history on record iPhone sales...74.5 million to be exact during the holiday period. Profits surged more than 37%, crushing analysts' estimates. Revenue also topped forecasts, rising more than 29% from a year earlier.
Yahoo (YHOO) shares also surged ahead of the bell. Investors applauding the company's move to spin off its remaining $40 billion stake in Chinese e-commerce giant Alibaba (BABA) into a separate publicly traded firm owned by Yahoo shareholders. The tax-free transaction is expected to save the company billions of dollars. Yahoo is the parent company of Yahoo Finance.
AT&T(T) shares were higher in the pre-market. The wireless carrier posting earnings and revenue that slightly beat estimates as more customers took advantage of mobile deals during the last three months of last year. However, more subscribers switched to other networks at a faster rate.
Boeing (BA) shares took off in early trading. The aerospace giant beat on both its top and bottom lines in the fourth quarter thanks to strong demand for its commercial airplanes. However, the company gave a disappointing outlook for this year.