CORRECTED-US STOCKS-Wall St gains, telecoms sector lifted by Windstream
(Corrects paragraph 11 to show UPS is on Dow transportation index, not Dow industrials)
* Windstream rallies; set to spin off assets into REIT
* Pfizer, Merck rise as results beat expectations
* Herbalife shares tumble after it cuts sales outlook
* Indexes up: Dow 0.34 pct, S&P 0.24 pct, Nasdaq 0.55 pct
By Rodrigo Campos
NEW YORK, July 29 (Reuters) - U.S. stocks rose Tuesday on news about a spinoff in the telecommunications sphere that sent most stocks in the sector soaring and on better-than-expected results from Pfizer and Merck.
Windstream Holdings jumped 18.2 percent to $12.45 in its most brisk trading on record after the company filed to spin off assets into a tax-efficient publicly-traded real estate investment trust.
The strategy triggered bets on long-term advantages for peers and the S&P telecoms sector index rose 3.9 percent with AT&T up 4 percent to $37.09, Verizon up 2.4 percent at $52.82, CenturyLink up 9.2 percent to $41.18 and Frontier Communications up 18.2 percent to $7.02. Continuación...