The ratings agency cited the bank's improved earnings and overall sound financial position.

Apple does have reasons to hope for improved future earnings.

Many other airlines have reported improved earnings recently after collectively losing $12.8 billion since 1990.

The improved earnings were more than wiped out, however, by a $9.5 million restructuring charge for the move to Texas.

But it has yet to clock three consecutive quarters of improved earnings.

The results at both companies were helped by improved earnings in petroleum refining and marketing operations.

In 1991, the bull market and, the firm said, its own strategy produced four consecutive quarters of improved earnings.

The reductions were at least partly responsible for improved earnings in 1991, which increased by 42 percent, to $1.28 billion.

Despite the improved earnings of both companies, investors gave their shares a mixed response.

The improved earnings were largely a result of proceeds from asset sales and tax gains.