US STOCKS-Wall St up on earnings, Portugal bank deal
* Berkshire Hathaway shares up after results
* Michael Kors shares reverse premarket move, fall 5.5 pct
* Diamond Offshore weighs on Loews earnings
* Indexes: Dow flat, S&P up 0.2 pct, Nasdaq up 0.3 pct (Updates prices, adds comment)
By Rodrigo Campos
NEW YORK, Aug 4 (Reuters) - U.S. stocks rose in morning trading on Monday, lifted by earnings including those of Warren Buffett's Berkshire Hathaway, with gains partly offset by drops in high-yielding dividend stocks in the utilities sector.
The S&P 500 fell 2.7 percent last week, its biggest percentage drop since the week through June 1, 2012. Despite the sharp decline, the benchmark's technical picture was still bullish, analysts said, giving support to the rebound.
The bailout of Portugal's largest listed lender, Banco Espirito Santo, supported bank shares. Lisbon agreed to rescue BES with a $6.6 billion bailout.
"From a technical viewpoint, the market managed on Friday to hold the lower end of the trading range and the fact we did that is helping the market out this morning," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. Continuación...