MARKET PULSE-Merck, Coach, Gogo, Nokia, Biota, Cirrus Logic

Tue Apr 29, 2014 9:56am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

U.S. stocks opened higher on Tuesday, lifted by a round of positive earnings reports, including from Dow component Merck & Co. The Dow Jones industrial average was up 0.53 percent at 16,535.75, the S&P 500 was up 0.50 percent at 1,878.71 and the Nasdaq Composite was up 0.58 percent at 4,097.837.

** MERCK & CO, $58.31, +2.88 pct

Britain's Reckitt Benckiser Group Plc confirmed on Monday it was in talks to buy the U.S. drugmaker's consumer health business, the latest asset up for grabs in a wave of recent pharmaceutical deals.

Merck on Tuesday reported better-than-expected quarterly earnings, helped by sharply lower research spending and asset sales, but revenue came in slightly below expectations.

** BRISTOL-MYERS SQUIBB CO, $48.925, -2.85 pct

The U.S. drugmaker reported higher-than-expected quarterly earnings, helped by cost cuts and lower taxes, but sales missed Wall Street estimates.   Continued...