MARKET PULSE-Merck, Sprint, Boston Scientific, Goodyear, Winthrop
U.S. stocks rose on Tuesday following better-than-expected earnings from Merck & Co and Sprint Corp. The Dow Jones industrial average was up 0.38 percent at 16,510.93, the S&P 500 was up 0.28 percent at 1,874.61 and the Nasdaq Composite was up 0.25 percent at 4,084.391.
** MERCK & CO, $58.29, +2.84 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.
** SPRINT CORP, $8.14, +9.56 pct
The No. 3 U.S. mobile provider reported fewer subscribers leaving than expected and strong tablet additions, as the company undergoes a massive network overhaul in a highly competitive market. Continued...