US STOCKS-Wall St up for sixth straight session on earnings, healthcare

martes 22 de abril de 2014 16:24 GYT
 

* S&P 500, Nasdaq on six-day winning streak

* Netflix up after results; Facebook gains on upgrade

* Allergan soars as Ackman and Valeant bid for company

* Indexes up: Dow 0.4 pct, S&P 0.41 pct, Nasdaq 0.97 pct (Updates to close)

By Chuck Mikolajczak

NEW YORK, April 22 (Reuters) - U.S. stocks rose on Tuesday as a host of solid earnings reports, along with strength in the healthcare sector, helped lift the S&P 500 and Nasdaq to their sixth straight advance.

Netflix Inc surged 7 percent to $372.90 a day after showing 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 moved to the plus side for the year after a 21 percent drop in March.

Healthcare, up 1 percent, was the best performing of the 10 major S&P sectors. Allergan Inc jumped 15.2 percent to $163.65 a day after activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to bid for the company. U.S.-listed Valeant shares gained 7.5 percent to $135.41.

Also providing support to the sector was a deal between Novartis and GlaxoSmithKline, in which the two traded over $20 billion worth of assets in an effort to cope with healthcare spending cuts and generic competition. U.S.-listed shares of Novartis gained 1.3 percent to $85.56, while Glaxo advanced 4.1 percent to $55.30.   Continuación...