U.S. stocks rose, with the Standard & Poor 500
Index near a record, as better-than-forecast earnings from Apple Inc.
and Facebook Inc. boosted technology shares.
Apple jumped 8.1 percent after selling more iPhones
than analysts predicted. Zimmer Holdings Inc. surged 12 percent after
it agreed to buy rival orthopedic-device maker Biomet Inc. in a deal
valued at $13.4 billion. 3M fell 1.1 percent after profit missed
estimates, while Verizon Communications Inc. dropped the most in the Dow
Jones Industrial Average on concerns about a shift in revenue. Qualcomm
sank 3.4 percent as results fell short of forecasts.
The S&P 500 rose 0.3 to 1,881.76 at 1:08 p.m.
in New York, bringing it to about nine points from a record. The Dow
average added 20.68 points, or 0.1 percent, to 16,522.33. The Nasdaq 100
Index, which includes Apple, climbed 1.1 percent.
Copy: Bloomberg
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