Stocks are higher; Time Warner Cable jumps
NEW YORK (AP) — U.S. stocks are slightly higher in midday trading after several companies reported higher earnings.
Time Warner Cable rose sharply after the company agreed to be acquired by its larger rival Comcast. Goodyear Tire & Rubber surged 10 percent after the company’s earnings beat analysts’ estimates.
The Standard & Poor’s 500 rose four points, or 0.2 percent, to 1,823 as of noon Thursday.
The Dow Jones industrial average gained 22 points, or 0.1 percent, to 15,986. The Nasdaq rose 16 points, or 0.4 percent, to 4,215.
Time Warner Cable jumped 7 percent, while Comcast fell 4 percent. The $45 billion deal would combine the top two cable TV providers in the United States.
CBS rose 4 percent after the company beat earnings estimates and reported higher revenue from licensing TV shows.