NEW YORK, N.Y. – U.S. stocks are closing slightly higher after several companies reported earnings gains.
Goodyear Tire & Rubber surged 11 per cent 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 per cent, to close at 1,829 Thursday.
The Dow Jones industrial average gained 63 points, or 0.4 per cent, to 16,027. The Nasdaq composite increased 39 points, or 0.9 per cent, to 4,240.
Time Warner Cable jumped 7 per cent, while Comcast fell 4 per cent. The $45 billion deal would combine the top two cable TV providers in the United States.
CBS rose 5 per cent after the company beat earnings estimates and reported higher revenue from licensing TV shows.