Shares of Apple (AAPL) are set to soar this morning after the company announced a series of moves that have investors cheering. Earnings topped expectations, iPhone sales were strong, and Apple is slicing its stock up in an unusual 7-for-1 stock split. At Wednesday's closing price of about $525 a share, the post split stock would trade for about $75. Apple also raised its dividend and the size of its stock buyback. But Apple fans are still waiting for new products. The expectation is that a new, larger screen iPhone will be introduced later this year.
People around the world are tired of belt-tightening. A new survey by TripAdvisor (TRIP) finds vacation lovers plan to increase spending by 3 percent this year to more than $6,100. Many Europeans and Australians plan to spend even more. The most popular destinations are in Europe -- Italy in particular -- followed by Asia and then North America.
Here on Wall Street on Wednesday, the Dow Jones industrial average (^DJI) fell 12 points, the Standard & Poor's 500 index (^GPSC) lost 4, and the Nasdaq composite (^IXIC) dropped 34 points.
Finally, the toymaker Lego had a huge hit with its "Lego" movie, so now Mattel (MAT) is preparing Barbie, the movie. While Barbie is an iconic brand, its sales have been slumping. They dropped 14 percent in the first quarter. Mattel will partner on the project with Sony Pictures.
-Produced by Drew Trachtenberg.