Apple, Twitter Earnings Beat Expectations

Another gloomy day for the markets as all the major averages fell for a second straight day.

Apple (NASDAQ:AAPL) came in with juicy earnings, selling iPhones hand over fist. And the important headline here: China's consumers still frantically snapped up the iPhone 6! Sales hit 48 million units, driven by China. Phone sales accounted for nearly 63% of the company's quarterly revenue. The stock jumped more than 3% shortly after the release.

The little blue bird had a big beat on third quarter earnings, but while the monthly active user number jumped 11% year-over-year to 320 million, it fell just short of expectations. Another big issue for investors is that revenue outlook for the current quarter was lower than the expected. Twitter (NYSE:TWTR) shares plummeted more than 8% after hours.

Facebook (NASDAQ:FB) is still king of social, touching a new all-time high Tuesday and hitting above $104 for the first time. That's the third record high in a row for the social network.

And a blockbuster deal is in the works; Walgreens (NYSE:WAG) has bought the nation's third largest drugstore chain, Rite Aid (NYSE:RAD). Shares of Rite Aid soared, settling up 42%.