Yesterday the DOW and S&P 500 opened lower, but then reversed course and rallied ahead of Apple Inc.’s widely anticipated earnings release on the close.

Apple reported that strong Ipad and Iphone sales helped it generate a robust 78% increase in net income for the April-June second quarter of 2010 when compared with the same months a year ago.

Shares of Harley-Davidson (NYSE: HOG) are up today in response to its release of positive earnings before the opening bell today.

Wall Street analysts consensus estimates were for Harley-Davidson to earn 42 cents a share. The company in fact blew through these estimates and made 59 cents a share. In response bidders are trading Harley shares up over 12% at the time up this update.

This morning Goldman Sachs shares are trading down before the opening bell after the company reported that its second quarter net income dropped 83% as a result of an expense charge of $550 million it made in its settlement with the Securities and Exchange Commission for Civil fraud. It also reported that its trading revenue fell.

Shares of ATC Technology Corporation (NASDAQ: ATAC) are trading up over 39% today on news that it is agreeing to a buyout for $512 million dollars.

The company is being acquired by Genco Distribution systems for cash. After the acquisition it will become privately held by Genco and become a subsidiary for Genco.

Following a brutal Friday session trading session last week this morning stock market futures are pointing higher. S&P 500 futures are trading up 3.50 and there is hope among many traders that the market will return to last week’s higher levels.

Although the Japanese Nikkei stock index fell overnight Britain and Germany’s stock exchanges are currently trading up half a percent.

Today Tesla Motors announced that it is planning to produce RAV4 prototype electric cards this year. The production of these cars is a partnership with Toyota, which issued a press release in May stating that it is going to invest $50 million in Tesla Motors.

Yesterday after the stock market closed Google reported earnings that missed analyst estimates. Google posted earnings of $6.45 a share when analysts were expecting earnings to come in at $6.51 a share. In the second quarter Google pay per click revenue rose 15% from a year ago.

Shares of Verenium Corporation (NASDAQ: VRNM) rallied over 37% today on some exciting corporate news.

BP Biolfuels North America announced an agreement to buy Verenium’s biofuel cellulosic business for $98.3 million dollars. This division of the company includes operations in San Diego, California and Jennings, Louisiana.

This morning JP Morgan reported earnings reports that topped analyst consensus estimates. The company stated that its second quarter net income rose 77% over last year thanks to fewer losses from failed loans and fewer write-offs on mortgage securities than occurred last year.

Recent economic data has prompted most economists to lower their forecasts for US GDP growth for 2010. It appears to all that a slowdown in the economy is occurring.

The real estate market has yet to bottom. So far in 2010 over 528,000 homes have been foreclosed on. If foreclosures continue at this rate they will surpass the 900,000 homes repossessed last year.