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International Business Machines Corp.’s stock rocketed 8.7% in morning trade Wednesday, putting it on track to post the biggest post-earnings rally in nearly nine years. IBM reported late Tuesday profit and revenue that beat expectations. The last time the information technology company pleased investors this much with its quarterly report was Jan. 21, 2009, when the stock soared 11.5% after IBM reported fourth-quarter 2008 results. The day after the 34 quarterly reports in between, the stock had gained just nine times, by an average of 3.1%, ranging from gains of less than 0.1% and up to 5.7%. Separately, the stock’s price gain of $12.79 is the biggest for any day since it ran up $13.50 on July 20, 2000. The price gain was adding about 88 points to the price of the Dow Jones Industrial Average , which was up 110 points.

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Abbott Laboratories shares surged 1.6% in morning trade Wednesday after the company reported third-quarter profit and revenue beats. Earnings for the latest quarter were $603 million, or 32 cents per share, after a loss of $329 million, or a loss of 24 cents per share, in the year-earlier period. Adjusted earnings-per-share were 66 cents, above the FactSet consensus of 65 cents. Revenue rose to $6.83 billion from $5.30 billion, above the FactSet consensus of $6.73 billion. The company also revised its 2017 EPS guidance to between 97 cents and 99 cents, compared with previous guidance of $1.03 to $1.13, and said it expects 2017 adjusted EPS of $2.48 to $2.50, compared with previous guidance of $2.43 to $2.53. The FactSet 2017 EPS consensus is 88 cents and the FactSet 2017 adjusted EPS consensus is $2.49. Abbott expects fourth-quarter EPS of 28 cents to 30 cents, below the FactSet consensus of 31 cents, and adjusted EPS of 72 cents to 74 cents, compared with the FactSet consensus of 73 cents. Abbott shares have surged 14.7% over the last three months, compared with a 4.1% rise in the S&P 500 .

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The U.K. government will delay putting forth a second reading of a bill for the U.K. to withdraw from the European Union as lawmakers have submitted a slew of amendments, reports said Wednesday. The EU Withdrawal Bill was expected to be debated this week, but it is likely not to be put in front of the House of Commons until mid-November, according to The Independent newspaper. . The opposition Labour Party’s shadow Brexit team has submitted more than 20 amendments to the bill, and these are seen as holding up its progress in becoming law. Conservative Party members who back EU membership have also offered amendments, some of which have enough Conservative signatures to potentially threaten Prime Minister Theresa May’s majority, The Guardian newspaper reported. It may be tricky to schedule the eight days of debate necessary before Christmas, as the government must also present its budget on Nov. 22, the Guardian added.

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U.S. stock-market indexes scaled all-time highs after opening modestly higher on Wednesday, as investors focused on another round of key corporate earnings. The Dow Jones Industrial Average traded above the psychologically important level of 23,000, after gaining 114 points, or 0.5%, to 23,111. The S&P 500 was 4 points, or 0.1%, higher at 2,563. The tech-heavy Nasdaq Composite index advanced 9 points, or 0.1%, to 6,632. Shares of International Business Machine jumped 7.7% after estimate-beating third-quarter earnings results, adding about 50 points to Dow industrials.

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Ford Motor Co. disclosed Wednesday in a filing that a “field service action” it announced to correct a door latch issue on some F-150 and F-250 trucks is estimated to cost $267 million. The door latch issue is on certain model year 2015 through 2017 F-150 trucks and certain model year 2017 F-250 trucks. Ford said the cost, which will be incurred by its North America business unit, will be reflected in fourth-quarter results. The automaker affirmed its 2017 adjusted earnings-per-share guidance, which would exclude this non-recurring cost, of $1.65 to $1.85, which surrounds the FactSet consensus of $1.74. The stock, which tacked on 0.2% in premarket trade, has gained 1.2% year to date through Tuesday, while rival General Motors Co. shares have soared 29% and the S&P 500 has climbed 14%.

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Automatic Data Processing Inc. on Wednesday urged shareholders to re-elect its “highly qualified” board at its annual shareholder meeting scheduled for Nov. 7. The company released a video of Chief Executive Carols Rodriguez and Chairman John Jones outlining the company’s transformation and the execution of its strategy. The company said Bill Ackman’s hedge fund Pershing Square, which has built a 2% stake in the company and is seeking changes including up to 30% of board seats, has “no technology or human capital management experience, both of which are critical to the future of ADP. Mr. Ackman also has not articulated any specific plans for how he would achieve the massive margin increases he has targeted,” the company said in a statement. ADP shares have gained 10% in 2017, while the S&P 500 has gained 14%.

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General Electric Co. and Apple Inc. announced Wednesday a partnership aimed at bringing GE’s industrial Internet of Things (IoT) platform Predix to Apple’s iPhones and iPads. The companies will provide developers a new software development kit to make industrial IoT apps for Apple’s operating system iOS. As part of the partnership, GE will standardize on iPhone and iPad for mobile devices, and promote Mac as a choice for its global workforce, while Apple will promote Predix as the industrial IoT analytics platform of choice for its customers and developers. “Working together, GE and Apple are giving industrial companies access to powerful apps that help them tap into the predictive data and analytics of Predix right on their iPhone or iPad,” said GE Chief Executive John Flannery. GE’s stock edged up less than 0.1% in premarket trade, while Apple’s stock ticked up 0.2%. Year to date, GE’s stock has tumbled 26.6%, while Apple shares have run up 38.6% and the Dow Jones Industrial Average has climbed 16.4%.

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Micron Technology Inc. said Wednesday it is planning to retire $2.25 billion of debt. The chip maker said it will redeem all $1.25 billion of its outstanding 7.5% notes due 2023, as well as $1 billion of 5.25% notes due 2023. The company will fund the transaction with the proceeds of a recent equity offering and cash on hand. Shares have gained 89% in 2017, while the S&P 500 has gained 14%.

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Apple Inc.’s stock edged up 0.2% in premarket trade Wednesday, putting them on track for a fourth-straight gain, after Mizuho analyst Abhey Lamba raised his stock price target to current levels, citing an improved outlook for average selling prices. Lamba boosted his target to $160, which is 0.3% below Tuesday’s closing price, from $150, while keeping his rating at neutral. He expects Apple to report fiscal fourth-quarter results on Nov. 2 that are in line with expectations, but he raised his fiscal 2018 earnings estimates to account for higher ASPs associated with iPhone X shipments, and the shift of shipments from Q1 2018 to Q2 2018. His 2018 EPS estimate was raised to $10.67 from $9.60, while his revenue estimate was lifted to $267.9 billion from $238.5 billion. In June, Lamba had downgraded Apple to neutral and cut his target to $150 from $160, citing concerns that enthusiasm around the upcoming product cycle was fully captured by the stock’s rally, with limited upside to estimates. Apple’s stock has run up 6.9% over the past three months through Tuesday, while the tech-heavy Nasdaq 100 has gained 4.1% and the Dow Jones Industrial Average has climbed 6.6%.

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