U.S. stocks started Wednesday's trading day higher. Time Warner (TWX) is sharply higher after the media giant confirmed it had rejected an $80 billion buyout from 21st Century Fox (FOXA). Intel (INTC) also moved higher after beating Wall Street's expectations with its Q2 results. The chipmaker also announced it's boosting its share buyback plans. Apple (AAPL) and IBM (IBM) stocks are higher after announcing it will partner to create business apps for corporate customers. Blackberry (BBRY) investors didn't take the news well, shares of the mobile phone maker fell on the news. In Washington, Federal Reserve Chair Janet Yellen is testifying for the second day before Congress on Capitol Hill. TheStreet's Susannah Lee reports from Wall Street.