US STOCKS-Wall Street rises, shrugging off tumble in Apple shares
* Apple drops to two-year low, weighs on indexes
* Kohl's falls after posting drop in net sales
* Monsanto rises on reports of possible bid for company
* Indexes mixed: Dow +0.19 pct, S&P +0.10 pct, Nasdaq -0.36 pct (Updates to afternoon)
By Noel Randewich
May 12 (Reuters) - U.S. stocks moved higher on Thursday, with gains in telecommunications and consumers staples outweighing a tumble in Apple to a two-year low.
The S&P 500 and Dow Jones industrial average rose in the afternoon after declining earlier in the session. Microsoft Corp , up 1.09 percent, contributed the most to the S&P 500's gain.
Apple Inc, a mainstay in many portfolios, was the heaviest drag on the three major indexes, slumping as much as 3.3 percent to $89.47, its lowest since June 2014, as worries festered about slowing demand for iPhones.
A rally in the S&P 500 from its February lows petered out in the last two weeks amid underwhelming corporate reports and economic data that clouded the path of interest rate increases this year. Continuación...