US STOCKS-Wall St gains on earnings; S&P up for 6th straight day

martes 22 de abril de 2014 11:59 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 0.6 pct, S&P 0.5 pct, Nasdaq 0.9 pct (Updates to midday trading)

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 6 percent to $369.33 a day after results showed strong subscriber growth, a sign the trading favorite still had room to grow despite recent concerns over its valuation. With the day's gain, the stock returned to slightly positive territory for the year after a 21-percent decline in March.

Also helping lift the Internet space was Facebook Inc , which rose 2.5 percent to $62.80 after Credit Suisse upgraded the social networking company to "outperform" on higher expectations for the company's long-term average revenue per user.

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 0.2 percent to $86.58 while United Tech was up 1.2 percent at $119.69.   Continuación...