Stocks Opened Up on Earnings

U.S. stocks opened up on Tuesday, as investors remain optimistic about second-quarter corporate earnings. The Dow industrials lately rose 47.15 points, or 0.30%, to 15,592.70. The S&P 500 added 1.36 points, or 0.08%, to 1,696.89. The Nasdaq Composite added 1.14 points, or 0.03%, to 3,601.53.

The chemicals giant DuPont reported a nearly 12 percent decline in second-quarter earnings partly because of lower pricing for titanium dioxide, a whitening pigment, and said Tuesday that it is exploring a possible sale or spinoff of its performance chemicals unit. The company reported net income of $1.03 billion, or $1.11 per share, for the quarter ending June 30, compared to $1.17 billion, or $1.23 per share, for the same period last year. Revenue fell 1 percent to $9.8 billion as lower selling prices and currency effects offset an overall 1 percent volume gain.

United Parcel Service Inc (UPS) on Tuesday posted a smaller quarterly profit. For the second quarter, UPS said export shipments rose 5 percent, but because customers used more normal delivery services instead of express options, export revenue fell 3.4 percent. In the domestic market, daily package volume improved 1.9 percent from the same period last year as more customers shopped online. Total U.S. domestic revenue per piece was up 0.3 percent.

United Technologies Corp (NYSE: UTX – news) , the world’s largest maker of elevators and air conditioners, raised the bottom end of its 2013 earnings forecast on Tuesday, citing its growing confidence after a jump in customer orders and round of cost cuts.

Cisco Systems Inc. (NASDAQ:CSCO) has agreed to buy cybersecurity firm Sourcefire for $2.7 billion, a move that will bolster the technology giant’s security offerings.

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