US midday: Stocks bounce back
- Stocks near highs of the session
- Crude futures bounce back
Dow Jones Industrials: 0.53%
Nasdaq Composite: 0.86%
S&P 500: 0.77%
US stocks rallied after solid quarterly earnings from companies including Berkshire Hathaway.
With no major US economic data due in Monday's session, investors were focusing on corporate earnings.
Berkshire gained after the group reported after the closing bell on Friday that the operating profit increased by a better-than-expected 10.5% in the second quarter, helped by investment gains and improved results from non-insurance businesses.
Fashion group Michael Kors turned around to trade lower after it upped its profit guidance for the year following a 43% surge in revenue in its first quarter.
Some 72 firms including Walt Disney and Time Warner will report earnings over the moing week the week.
"Guardians of the Galaxy",the latest film from Walt Disney's Marvel Studios unit topped the list of gross proceed last weekend.
The S&P 500 is now trading at 17.6 times' reported earnings, according to Bloomberg data.
From a sector standpoint the best performance was seen in the following industrial groups: travel (3.07%), consumer electronics (2.87%) and reinsurance (2.77%).
Meanwhile, global stocks were given a boost after Portugal bailed out Banco Espirto Santo in a €4.9bn deal.
The Bank of Portugal's Resolution Fund will move Banco Espirito Santo's deposit-taking operations and most of its assets to a new company, Novo Banco, which it will own outright.
It comes after regulators uncovered potential losses on loans to other companies tied to Portugal's Espirito Santo family and ordered the lender to raise capital.
Treasury yields lower
The 10-year yield fell one basis point to 2.49%.
West Texas Intermediate crude futures dropped 0.53% to $98.40 per barrel, according to the NYMEX.
S&P 500 - Risers
Expedia Inc. (EXPE) $84.77 +6.74%
Noble Energy Inc. (NBL) $70.32 +5.35%
Anadarko Petroleum Corp. (APC) $110.84 +4.94%
Priceline Group Inc (PCLN) $1,303.23 +4.60%
Gannett Co. Inc. (GCI) $34.28 +4.26%
Eog Resources Inc. (EOG) $111.69 +3.38%
FMC Technologies Inc. (FTI) $61.96 +3.35%
Occidental Petroleum Corp. (OXY) $101.08 +3.26%
Walgreen Co. (WAG) $72.79 +3.21%
Harman International Industries Inc. (HAR) $111.13 +3.16%
S&P 500 - Fallers
Noble Corporation plc (NE) $26.94 -13.32%
L-3 Communications Holdings Inc. (LLL) $104.33 -2.87%
Cardinal Health Inc. (CAH) $70.30 -2.86%
Fifth Third Bancorp (FITB) $19.94 -2.61%
Clorox Co. (CLX) $86.90 -2.58%
Transocean Ltd. (RIG) $39.42 -2.53%
Goodyear Tire & Rubber Co. (GT) $24.59 -2.34%
American Electric Power Co. Inc. (AEP) $51.27 -1.99%
Pinnacle West Capital Corp. (PNW) $53.08 -1.65%
SCANA Corp. (SCG) $50.05 -1.59%
Dow Jones I.A - Risers
Walt Disney Co. (DIS) $87.37 +2.33%
Exxon Mobil Corp. (XOM) $100.25 +1.47%
Caterpillar Inc. (CAT) $101.89 +1.36%
Microsoft Corp. (MSFT) $43.38 +1.20%
Unitedhealth Group Inc. (UNH) $82.35 +1.06%
Cisco Systems Inc. (CSCO) $25.19 +0.76%
Goldman Sachs Group Inc. (GS) $171.42 +0.69%
Nike Inc. (NKE) $77.28 +0.65%
E.I. du Pont de Nemours and Co. (DD) $64.62 +0.64%
Merck & Co. Inc. (MRK) $57.16 +0.63%
Dow Jones I.A - Fallers
Procter & Gamble Co. (PG) $79.15 -0.63%
Pfizer Inc. (PFE) $28.72 -0.50%
General Electric Co. (GE) $25.24 -0.43%
McDonald's Corp. (MCD) $94.02 -0.30%
Boeing Co. (BA) $120.10 -0.23%
Nasdaq 100 - Risers
Expedia Inc. (EXPE) $84.77 +6.74%
Priceline Group Inc (PCLN) $1,303.23 +4.60%
Charter Communications Inc. (CHTR) $158.07 +3.82%
Baidu Inc. (BIDU) $220.37 +3.76%
Dollar Tree Inc (DLTR) $56.17 +3.11%
Tesla Motors Inc (TSLA) $240.18 +2.96%
Amgen Inc. (AMGN) $129.15 +2.87%
Amazon.Com Inc. (AMZN) $315.00 +2.59%
Yahoo! Inc. (YHOO) $36.48 +2.41%
Micron Technology Inc. (MU) $31.82 +2.34%
Nasdaq 100 - Fallers
Catamaran Corp (CTRX) $43.48 -3.14%
Equinix Inc. (EQIX) $211.78 -1.28%
Vertex Pharmaceuticals Inc. (VRTX) $86.47 -1.21%
Intuit Inc. (INTU) $81.01 -1.17%
Discovery Communications Inc. Class A (DISCA) $84.36 -1.00%
Sba Communications Corp. (SBAC) $105.24 -0.88%
Maxim Integrated Products Inc. (MXIM) $29.64 -0.70%
Linear Technology Corp. (LLTC) $43.96 -0.63%
Biogen Idec Inc. (BIIB) $327.98 -0.56%
Broadcom Corp. (BRCM) $38.03 -0.43%
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