NEW YORK — U.S. stock indexes edged higher on Tuesday following stronger-than-expected earnings reports from the makers of Kellogg's cereal, Oreo cookies and others. Markets around the world were mostly steady, while bond yields were stable and commodity prices dipped modestly.þþThe S&P 500 is on pace to close October with its seventh straight month of gains, its longest such streak in more than four years.þþKEEPING SCORE: The S&P 500 rose 3 points, or 0.1 percent, to 2,576, as of 1:15 p.m. Eastern time. It's been on a gentle upward slope for most of this year, and its modest decline of 0.3 percent on Monday followed seven straight weeks of gains.þþThe Dow Jones industrial average was up 21 points, or 0.1 percent, to 23,369, and the Nasdaq composite rose 26 points, or 0.4 percent, to 6,724.þþFOOD BINGE: Several food companies were among the market's top performers after reporting stronger-than-expected earnings.þþKellogg jumped $3.79, or 6.4 percent, to $62.66. Revenue from North America was better than some analysts expected, and the company made more in operating profit from each $1 of sales.þþMondelez International gained $2.35, or 6 percent, to $41.65 after it reported revenue gains in Latin America, Europe and North America.þþGROWING: Fertilizer maker Mosaic jumped to the largest gain in the S&P 500, up $1.78, or 8.5 percent, to $22.63. It reported earnings for the latest quarter that were well above analysts' expectations, but it also cut its dividend.þþTHANKS, BUT NO THANKS: Rockwell Automation surged after it received a buyout bid worth $215 per share in cash and stock. The company said it rejected the unsolicited bid it received from Emerson Electric on Oct. 10.þþRockwell Automation jumped $15.76, or 8.4 percent, to $202.76. Emerson Electric fell $1.63, or 2.4 percent, to $65.71.þþTHREADBARE: Under Armour recorded the largest loss in the S&P 500 after it said demand for its sporting gear in North America weakened last quarter. It also lowered its forecast for earnings this year for the second time in three months. Its Class A shares fell $2.78, or 17 percent, to $13.63.
Source: NY Times
