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The Before the Bell report is constantly updated to reflect the latest news developments and market moves in the premarket. Check back later for updates.

Corporate news is bursting out all over this morning, especially on the earnings front, but it's results late Wednesday from Apple and Facebook that really has the market basking in a warm glow today.

Both tech giants posted results ahead of Street expectations, and Apple made a surprise announcement that it was splitting its stock on a seven-for-one basis, as well as boosting its share buybacks. Shares in Apple are up about 8 per cent in the premarket, which could translate into its best day on the stock market since April 2012 if the gains hold. The share split could mean the tech giant may soon be included in the Dow Jones industrial average, providing a further boost to liquidity and investor exposure. Facebook shares are up 5 per cent in premarket trading.

Those moves have Nasdaq futures moving up in a hurry this morning, rising by about 1.5 per cent. Stock futures for the other major U.S. and Canadian indexes are also higher this morning, but much more modestly.

Today is one of the busiest corporate earnings days of the year, as first-quarter results pour out. We detail key highlights below in our Stocks to Watch section, along with some of the other stock news this morning. The earnings season so far has been pretty much in line with recent quarters: almost 75 per cent of S&P 500 stocks have beaten analysts' estimates on profits, and about 53 per cent have exceeded revenue projections, according to a Bloomberg tally.

In overseas markets, European stocks are also finding lift thanks to a number of strong earnings reports. But Asian stocks struggled, with the Nikkei down nearly 1 per cent amid yen currency strength and disappointment with the lack of a Trans-Pacific Partnership agreement during U.S President Barack Obama's visit to Tokyo. Chinese stocks failed to find lift on news that the country's State Council said it would ease restrictions on private sector investments for certain infrastructure projects.

Now, here's a closer look at what's going on this morning and what's to come.

MARKETS:

Equities:

Futures: S&P 500 +0.47 per cent; Dow +0.26 per cent; Nasdaq +1.48 per cent; S&P Toronto +0.13 per cent

Hong Kong's Hang Seng +0.24 per cent

Shanghai composite index -0.50 per cent

Japan's Nikkei -0.97 per cent

London's FTSE 100 +0.68 per cent

Germany's DAX +0.85 per cent

France's CAC 40 +1.01 per cent

Commodities:

WTI crude oil (Nymex Jun) +0.41 per cent at $101.86 (U.S.) a barrel

Gold (Comex Jun) -0.50 per cent at $1,278.20 (U.S.) an ounce

Copper (Comex Jly) +0.97 per cent at $3.07 (U.S.) a pound

Currencies:

Canadian dollar at 90.75 (U.S.), up 0.0011

U.S. dollar index down 0.05 at 79.80

Bonds:

U.S. 10-year Treasury yield 2.71 per cent, up 0.003

ECONOMIC INDICATORS:

U.S. initial jobless claims for last week  rose to 329,000 from 305,000 the week previous, above expectations for 315,000.

U.S. durable goods orders for March rose 2.6 per cent from February, ahead of consensus expectations for a rise of 1.9 per cent.

STOCKS TO WATCH:

Zimmer said it will  buy medical-device maker Biomet in a deal valued at about $13.35-billion, including debt.

General Electric is in talks buy Alstom SA, the French builder of trains and power plants, Bloomberg is reporting.

Apple shares are up about 8 per cent in the premarket after reporting Q1 EPS of $11.62 versus Street estimates of $10.17. It also raised its quarterly dividend, announced a seven-for-one stock split, and said it will raise its share buyback plan by $30-billion.

Facebook shares are up 5 per cent in the premarket after reporting Q1 EPS of 24 cents, beating the Street estimate by 10 cents.

Potash Corp. of Saskatchewan reported first-quarter EPS of 44 cents, beating the Street consensus of 35 cents. It also raised its 2014 earnings guidance. Shares are up 1.8 per cent in U.S. premarket trading.

Caterpillar reported Q1 EPS of $1.61, far surpassing the Street consensus of $1.24. Revenues of $13.24-billion beat the Street estimate of $13.14-billion. Shares are up nearly 4 per cent in the premarket.

General Motors reported Q1 EPS of 29 cents, far surpassing the Street consensus of 6 cents. But revenue for the quarter of $37.4-billion was below the consensus of $38.43-billion. Shares are up 3 per cent in the premarket.

Verizon Communications reported adjusted Q1 EPS of 84 cents versus the expected 87 cents. Shares are up 0.2 per cent in the premarket.

Home builder D.R. Horton reported Q2 EPS 38 cents versus the Street view of 34 cents.

Freeport-McMoran Copper & Gold reported adjusted Q1 EPS of 49 cents versus the Street estimate of 42 cents.

United Parcel Service reported Q1 EPS of 98 cents versus the Street estimate of $1.08. It also said it sees fiscal year EPS at the low end of its prior guidance.

3M reported Q1 EPS of $1.79 versus the expected $1.80. Shares are down 1.7 per cent in the premarket.

Sirius XM Holdings said first-quarter revenue rose to $997.7-million, above the average expectation of $994.6 million from analysts. Net income of 2 cents per share was in line with analysts estimates.

Other earnings today include: Domtar; Alamos Gold; Toromont Industries; Imax; Mullen Group; Open Text; Transforce; West Fraser; Aetna; Altera; Amazon.com; American Airlines; AmerisourceBergen; Baidu; Cabot Oil & Gas; Caterpillar; Celgene; Coca-Cola Enterprises; Chubb; Deckers Outdoor; Diamond Offshore Drilling; Dunkin' Brands Group; Eli Lilly; Edwards Lifesciences; JetBlue Airways; Las Vegas Sands; Microsoft; New York Times; Newmont Mining; Nielsen Holdings; Noble Energy; Nucor; Pandora Media; Raytheon; Southwest Airlines; Superior Energy Services; Time Warner Cable; United Bankshares; United Continental Holdings; Visa; Wyndham Worldwide.

ANALYST ACTIONS:

BMO Nesbitt Burns downgraded Canadian National Railway to "market perform" from "outperform" due to the recent stock rise, as it kept a $68 (Canadian) price target.

CIBC World Markets upgraded Total Energy Services to "sector outperformer" from "sector performer" and hiked its price target to $25.50 (Canadian) from $23.50.

Several analysts have raised their price targets on Facebook, including Canaccord hiking its target to $75 (U.S.) from $70; Jefferies raising its target to $85 from $80; and Deutsche Bank hiking its target to $85 from $76 and maintaining a "buy" rating.

Goldman Sachs raised its price target on Apple to $620 (U.S.) from $610 and maintained a "buy" rating. Bank of America raised its target to $615 from $590.

Goldman Sachs upgraded Goodyear Tire & Rubber to "conviction buy" from "buy" and raised its target to $36 (U.S.) from $33.

THIS MORNING'S TOP INVESTING LINKS:

Is it worth a contrarian bet on Russia or Greece?

Three reasons not to trade while traveling.

Why Americans think housing is such a good investment.

Be selective when talking about tech stocks being in another bubble.

A valuation metric that shows just how few cheap stocks are out there these days.

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For instant headlines on breaking economic and corporate news in the premarket, follow Darcy Keith on Twitter at @eyeonequities.

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