Wall Street soared on Wednesday to close at session highs after Senate leaders announced a highly anticipated compromise to raise the debt ceiling and end the U.S. government shutdown.

International Business Machines Corp. (NYSE: IBM) shares tumbled in extended-hours trading after the company reported fiscal third-quarter earnings of $3.99 a share on $23.72 billion in revenue, down from Wall Street estimates of $24.75 billion, according to analysts polled by Reuters. Although earnings beat estimates, revenue still came up short. Excluding items, earnings for the quarter came in at $3.96 a share.

“In the third-quarter we continued to expand operating margins and increased earnings per share, but fell short on revenue. Where we had identified high growth opportunities and pursued them aggressively -- cloud, mobile, business analytics, and security -- we continued to show strong growth. This underscores our strategy to continuously transform the company to high value,” said Ginni Rometty, IBM chairman, president and chief executive officer.

For the year, the computer hardware and software maker maintained it expects adjusted earnings of at least $16.25 a share, or at least $16.90 a share excluding a restructuring charge from the second quarter.

“We are taking action to improve execution in our growth markets unit and in the elements of our hardware businesses that are under performing,” Rometty said. “Given these actions, our strategic initiatives and the strength of our model, we are maintaining our view for the full year and remain confident in our ability to achieve at least $20 operating EPS in 2015.”

On Wednesday, shares of IBM plunged 5.77 percent to $175.95 in after-hours trading.

Reporting a rise in quarterly earnings was eBay Inc. (NASDAQ: EBAY), but its outlook disappointed investors as the e-commerce giant reported a fiscal third-quarter profit of $689 million, or 53 cents a share, on revenue of $3.9 billion, compared with a profit of $597 million, or 45 cents a share on $3.4 billion in sales, in the year-ago quarter. Excluding one-time items, eBay earned 64 cents a share. Wall Street expected the company to issue third-quarter EPS of 50 cents on revenue of $3.90 billion.

“We are maintaining our full year guidance, and expect to be at the lower end of the range for top and bottom line,” eBay said in its third- quarter earnings presentation.

For its fourth-quarter, eBay forecast earnings, excluding one-time items, of 79 cents to 81 cents a share, on revenue in a range of $4.5 billion to $4.6 billion, while analysts were looking for a profit outlook of 83 cents a share on $4.64 billion in sales.

Shares of eBay fell 4.71 percent to $51.00 in extended-hours trading.

American Express Company (NYSE: AXP) said fiscal third-quarter profit rose 9.3 percent to $1.37 billion, or $1.25 a share, compared with $1.25 billion, or $1.09 a share in the year-ago period. Analysts had expected the company to report third-quarter EPS of $1.22 on revenue of $8.22 billion. Revenue rose 5.6 percent to $8.3 billion.

“Despite an uncertain environment, we generated a healthy increase in revenues and stronger Card Member spending across all regions this quarter,” said Kenneth I. Chenault, chairman and chief executive officer. “The combination of top-line growth, credit quality, a strong capital position and continued vigilance on expenses produced a 15 percent increase in earnings per share. It also gave us the flexibility to make substantial investments this quarter in marketing and other initiatives to position our business for the years ahead.”

American Express shares edged up 0.29 percent to $76.54 after the bell.

Ahead of the earnings calendar for Thursday, notable companies reporting results include Google Inc. (Nasdaq: GOOG), Goldman Sachs Group Inc. (NYSE: GS), Verizon Communications Inc. (NYSE: VZ) and Philip Morris International Inc. (NYSE: PM).

The Dow Jones industrial average gained 205.82 points, or 1.36 percent, to close at 15,373.83. The S&P 500 Index was up 23.48 points, or 1.38 percent, to end at 1,721.54. The Nasdaq Composite Index was up 45.42 points, or 1.20 percent, to finish at 3,839.43.