U.S. stocks rise on earnings, Spain news
Several major companies report generally robust earnings
SAN FRANCISCO (MarketWatch) — U.S. stocks rose on Tuesday, as several major companies reported strong earnings and as reports indicated that Spain is mulling a request for a line of credit from the European Union.
The blue-chip Dow Jones Industrial Average (DJI
JIA) rallied 118 points, or 0.9%, to 13,541.72 in mid-morning trade, with 29 of its 30 components trading higher.
Stocks climbed on “positive earnings surprises out of the U.S. and renewed optimism on a Spain bailout,” said Anthony Lazzara, chief executive officer of Newport Beach, Calif.-based Lido Isle Advisors.
Several Dow companies reported generally robust earnings ahead of the opening bell, including Johnson & Johnson (NYSE:JNJ) , UnitedHealth Group Inc. (NYSE:UNH) and Coca-Cola Co. (NYSE:KO) .
http://www.marketwatch.com/story/us-stocks-ri...2012-10-16
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