US stocks open higher following earnings news
NEW YORK (AP) — The U.S. stock market is rising modestly in early trading following a batch of earnings and corporate news.
The Dow Jones industrial average gained 22 points, or 0.1 percent, to 16,674 in the first few minutes of trading Thursday. The Standard & Poor’s 500 index rose three points, or 0.2 percent, to 1,950.
The Nasdaq composite climbed six points, or 0.1 percent, to 4,440.
Retailer Kohl’s rose 4 percent after saying its net income was basically flat in the second quarter, but topped expectations.
Keurig Green Mountain perked up 1.6 percent after the coffee company said it was raising prices by up to 9 percent in early November due to higher costs.
Cisco slipped 2 percent after it said late Wednesday that it will lay off up to 8 percent of its workforce, as part of a restructuring.
Wal-Mart was little changed after cutting its outlook for the year early Thursday. Other retailers are expected to report results later.