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VOL. 38 | NO. 32 | Friday, August 08, 2014
US stocks edge higher on corporate news, earnings
NEW YORK (AP) — U.S. stocks are closing slightly higher as investors turn their focus to corporate news and as tensions ease in Ukraine.
Priceline rose 2 percent after the online discounter reported better earnings than analysts were expecting. Chiquita Brands soared 30 percent on a buyout offer.
Kinder Morgan rose 9 percent after announcing it would consolidate a group of oil and gas pipeline and storage companies it controls.
The Standard & Poor's 500 index rose five points, or 0.3 percent, to close at 1,936 Monday.
The Dow Jones industrial average rose 16 points, or 0.1 percent, to 16,569. The Nasdaq composite rose 30 points, or 0.7 percent, to 4,401.
Bond prices barely budged. The yield on the 10-year Treasury note held steady at 2.42 percent.