US STOCKS-Wall St gains on earnings; Internet stocks lead

martes 22 de abril de 2014 10:21 GYT
 

* S&P 500, Nasdaq on track for six-day advance

* Netflix up after results, Facebook gains on update

* Allergan soars as Ackman and Valeant bid for company

* Indexes up: Dow 0.4 pct, S&P 0.4 pct, Nasdaq 0.7 pct (Updates to open, adds housing data)

By Ryan Vlastelica

NEW YORK, April 22 (Reuters) - U.S. stocks rose on Tuesday, with both the S&P 500 and Nasdaq on track for a sixth straight day of gains as a number of bellwether companies reported strong results.

Netflix Inc surged 7.1 percent to $373.13 a day after results showed strong subscriber growth, a sign the trading favorite still had room to grow despite recent concerns over its valuation.

Also helping lift the Internet space was Facebook Inc , which rose 2.3 percent to $62.64 after Credit Suisse upgraded the social networking company to "outperform."

Dow components Travelers Cos Inc and United Technologies Corp both reported first-quarter earnings that beat expectations, and United Tech raised the low end of its full-year profit outlook. Shares of Travelers rose 0.7 percent to $87.04 while United Tech was up 1 percent at $119.49.   Continuación...