Tuesday, Oct 25, 2016
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Stock Market

Higher earnings, deal news send US stocks higher; Time Warner Cable, Goodyear among winners

NEW YORK — U.S. stocks are closing slightly higher after several companies reported earnings gains.

Goodyear Tire & Rubber surged 11 percent after the company’s earnings beat analysts’ estimates. Time Warner Cable rose sharply after the company agreed to be acquired by its larger rival Comcast.

The Standard & Poor’s 500 index rose 10 points, or 0.6 percent, to close at 1,829 today.

The Dow Jones industrial average gained 63 points, or 0.4 percent, to 16,027. The Nasdaq composite increased 39 points, or 0.9 percent, to 4,240.

Time Warner Cable jumped 7 percent, while Comcast fell 4 percent. The $45 billion deal would combine the top two cable TV providers in the United States.

CBS rose 5 percent after the company beat earnings estimates and reported higher revenue from licensing TV shows.

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