Solid corporate earnings drive stocks higher

Comcast, Lockheed among gainers

7/22/2014

NEW YORK — U.S. stocks are moving higher in midday trading as more companies turn in solid earnings reports.

Comcast rose 2 percent after reporting higher profits than investors were expecting. The giant cable TV company signed up more subscribers for Internet service.

Defense contractor Lockheed Martin also rose 2 percent after the company’s income and revenue beat analysts’ forecasts.

The Standard & Poor’s 500 index rose 11 points, or 0.6 percent, to 1,984 in midday trading today.

The Dow Jones industrial average gained 69 points, or 0.4 percent, to 17,121. The Nasdaq composite rose 36 points, or 0.8 percent, to 4,460.

European markets rose. The DAX in Germany and the CAC-40 in France both rose 1 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.48 percent.