US stock move higher on corporate news, earnings

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Associated Press

Posted on August 11, 2014 at 12:01 PM

Updated Monday, Aug 11 at 1:00 PM

NEW YORK (AP) — U.S. stocks are moving higher as investors turn their focus to corporate news and as tensions ease in Ukraine.

Priceline rose 3 percent after the online discounter reported better earnings than analysts were expecting. Chiquita Brands soared 31 percent on a buyout offer.

Kinder Morgan rose 10 percent after announcing it would consolidate a group of oil and gas pipeline and storage companies it controls.

The Standard & Poor's 500 index rose 12 points, or 0.6 percent, to 1,943 in midday trading Monday.

The Dow Jones industrial average rose 62 points, or 0.4 percent, to 16,615. The Nasdaq composite rose 41 points, or 1 percent, to 4,412.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.43 percent.

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