MARKET PULSE-Merck, Sprint, Headwaters, Oxigene, Winthrop
U.S. stocks edged higher on Tuesday following better-than-expected earnings from Merck & Co and Sprint Corp. The Dow Jones industrial average was up 0.64 percent at 16,553.9, the S&P 500 was up 0.56 percent at 1,879.99 and the Nasdaq Composite was up 0.83 percent at 4,108.328.
** MERCK & CO, $58.39, +3.02 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, $8.21, +10.50 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...