Qualcomm Inc.'s (QCOM) fiscal third-quarter profit rose 17% as the chip maker continued to see strong demand for its smartphone technology.

Yum Brands Inc.'s (YUM) second-quarter earnings grew by 4.8% as improvement in the U.S. supported the fast-food chain's results, though China same-store sales growth continued to diminish.

IBM revealed quarterly profits and a full-year outlook that bested Wall Street's expectations. However, the blue-chip tech company's sales came in shy of forecasts.

The Consumer Cyclical sector (XLY) showed little movement while the S&P 500 gained 0.7% during trading today.

American Express Co.'s (AXP) second-quarter profit was essentially flat as the pace of customer card spending slowed, though it continued to benefit from historically low loan losses.

American Express Company's (NYSE:AXP) profit climbed in the second quarter, topping analysts' expectations.

Capital One Financial Corp.'s (COF) second-quarter profit fell 90% as the bank recorded a larger provision for credit losses, though net charge-offs improved.

Prudential Financial Inc. (PRU) will stop selling long-term care insurance through employer-sponsored benefit programs in most of the U.S., further paring its sales of a product that has proven to be a thorn in the sides of insurers amid the ultralow-interest-rate environment.

While the S&P 500 grew 0.7%, the Basic Materials sector (XLB) showed little movement during trading today.

KFC parent Yum Brands reported quarterly profit that missed Wall Street's view amid worries about China, where economic growth has cooled.