div > div.group > p:first-child"> Qualcomm — Qualcomm surged 10.8%, adding to Tuesday's gains after news broke that the chipmaker reached a settlement with Apple over their royalty dispute, dropping all legal action between the two companies worldwide. The settlement included a payment from Apple to Qualcomm as well as a chipset supply agreement. The news sent Qualcomm stocks soaring 23% on Tuesday. This pushed analysts at Stifel, J.P.
CSX — Shares of the rail transportation company rose nearly 5% after the company reported strong first-quarter earnings. CSX earned $1.02 per share, topping a 91 cent estimate from Refinitiv. CSX's revenue also beat expectations. Bank of New York Mellon — The bank's stock tumbled more than 8% on quarterly numbers that disappointed investors. Bank of New York Mellon reported a profit of 94 cents per share, 2 cents below a Refinitiv estimate. The company's revenue also missed expectations. Net interest margin, a key metric watched by investors, came in at 1.2%. Analysts polled by FactSet expected a print of 1.26%.
PepsiCo — Shares of the beverage and snack company rose 2.8% after it beat Wall Street's estimates in its first-quarter financial report. Pepsi reported earnings per share of 97 cents, while analysts polled by Refinitiv expected a profit of 92 cents.
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