US STOCKS-Wall St looks past weak data to move higher

jueves 13 de febrero de 2014 12:55 GYT
 

* Cisco falls after results, outlook

* Comcast to buy Time Warner

* Whole Foods drops after cutting forecast

* Initial claims rise, retail sales fall

* Indexes up: Dow 0.15 pct, S&P 0.22 pct, Nasdaq 0.4 pct

By Chuck Mikolajczak

NEW YORK, Feb 13 (Reuters) - U.S. stocks advanced on Thursday, erasing earlier declines as investors discounted weaker-than-expected data on consumer spending and the labor market, but a disappointing outlook by Cisco Systems kept gains in check on each of the major indexes.

Cisco fell 4.2 percent to $21.90 as one of the biggest drags on all three major U.S. indexes after the network-gear maker forecast a drop of 6 to 8 percent in revenue in the current quarter.

Indexes managed to recover from earlier weakness as investors looked past soft data on the consumer and labor market due to harsh weather conditions. Initial claims for state unemployment benefits rose last week and retail sales fell in January, while December retail sales were also revised lower.   Continuación...