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