Mattel, Inc. (NASDAQ: MAT) reported third-quarter net income rose 16 percent as the company earned $422.8 million, or $1.21 per share, compared with $365.9 million, or $1.04 per share, in the year-ago period.

Removing a tax benefit of 5 cents per share, earnings were $1.16 per share, while revenue for the company rose 6 percent to $2.21 billion.

Shares of Mattel rose 4.12 percent to $43.26 in morning trading on Wednesday.

Stanley Black & Decker, Inc. (NYSE: SWK) issued third-quarter earnings of $1.39 earnings per share, meeting the analysts’ consensus estimate. Revenue came in at $2.80 million for the quarter, compared with the consensus estimate of $2.81 million. However, the tool maker cut its outlook for the year as the company now projects full-year earnings of $4.90 to $5 per share, versus its earlier forecast of $5.40 to $5.65 per share.

Shares of Stanley Black & Decker plunged 14.04 percent to $76.46 in morning trade.

Just a day after Apple Inc. (NASDAQ: AAPL) climbed above the psychologically important $500 mark during intraday trading, Dow Jones reported the company was cutting orders for its low-cost iPhone 5C. This follows Tuesday's news that Burberry CEO Angela Ahrendts will join Apple as senior vice president of retail and online sales next year. The cut in orders raises concerns about weak demand.

Shares of Apple edged up 0.30 percent to climb above $500.25 in morning trading.

The Dow Jones industrial average rose 158.11 points, or 1.04 percent, to 15,326.12, the S&P 500 gained 17.60 points, or 1.04 percent, to 1,715.67 and the Nasdaq Composite added 37.91 points, or 1 percent, to 3,832.17.