Check out the companies making headlines midday Wednesday:
FedEx FDX , UPS UPS —Shares of FedEx and UPS fell 1.4 percent and 2.4 percent, respectively, after The Wall Street Journal reported that Amazon is trying to poach shippers from the two companies by offering lower fuel surcharges and fees.
IBM IBM — The tech giant reported better-than-expected earnings for the previous quarter, sending its shares up more than 7 percent. IBM's full-year results also topped estimates .
United Technologies UTX — Shares of United Technologies jumped 3.6 percent after the company reported adjusted earnings of $1.95 a share, easily topping an estimate of $1.53. The company's revenue also got a boost from its acquisition of Rockwell Collins.
Procter & Gamble PG — The company's stock rose more than 4 percent after the release of stronger-than-expected quarterly earnings . Procter & Gamble said its organic sales grew by 4 percent, also surpassing estimates.
Waters Corp. WAT — Shares of the laboratory instrument maker jumped 10 percent and were on track for their best day since April 28, 2009. Waters reported a quarterly profit that topped analyst expectations. Its guidance for the current quarter was also better than expected.
Synchrony Financial SYF — Synchrony Financial shares were up more than 9 percent through midday trading after releasing better-than-expected earnings. The company also said it will continue to manage Walmart's Sam's Club credit-card portfolio.
Comcast CMCSA — Shares of the media giant jumped 4 percent after its fourth-quarter results beat estimates . However, the company added fewer-than-expected high-speed internet customers in the previous quarter.
Capital One COF — Capital one slipped 6.4 percent after releasing its fourth-quarter results. The company said its quarterly revenue came in at $7.01 billion, below an estimate of $7.08 billion.
Dell Technologies DELL — Citigroup initiated coverage of Dell Technologies with a buy rating, citing a "big boost" from the company's debt paydown. Dell shares gained 1.5 percent.
Tesla TSLA — The electric car maker's stock dropped 3 percent after RBC Capital Markets downgraded the stock to sell . Analysts at the bank said Tesla needs to give clearer long-term guidance. That downgrade pushed the number of sell ratings above the buys among Wall Street analysts.
Restaurant Brands QSR-CA —Shares of Restaurant Brands were on pace for their best day since 2015, rising 7.9 percent, as investors cheered a strong preannouncement of the company's quarterly results. Restaurant Brands, which owns Tim Hortons, Burger King and Popeye's, also increased its annual dividend.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.
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