Stocks Rose after Earnings Reports

U.S. stocks gained on Tuesday, with the S&P 500 index posting its longest win streak in nearly six weeks, as Wall Street embraced strong earnings reports from big U.S. companies.  The Dow Jones Industrial Average added 62.51 points, or 0.46%, to 13,712.21. The S&P 500 index climbed 6.58 points, or 0.44%, to 1,492.56. The Nasdaq Composite advanced 8.47 points, or 0.27%, to 3,143.18.

Google Inc’s net revenue in its core Internet business increased more than 20 percent in the fourth quarter. Consolidated net income in the fourth quarter was $2.89 billion or $8.62 per share, compared to $2.71 billion, or $8.22 per share, in the year-ago period when Google had not yet acquired Motorola. Excluding certain items, Google said it earned $10.65 per share in the fourth quarter.

IBM, the world’s largest technology services company, reported fourth-quarter earnings and revenue that beat estimates on the back of growth in emerging markets. Its quarterly net income rose 10 percent to $6.1 billion, or $5.39 a share from $4.71 a year earlier. Revenue dropped 1 percent to $29.3 billion.

Chipmaker Advanced Micro Devices posted higher-than-expected fourth-quarter revenue of $1.16 billion and a net loss of $473 million, or 63 cents a share. AMD estimated revenue in the current first quarter would fall 9 percent from the fourth quarter, plus or minus 3 percent.