Stocks Extend Winning Streak on Earnings, Healthcare

U.S. stocks closed higher on Tuesday, with the S&P 500 extending its winning streak to 6 days, as investors welcomed better-than-expected earning results, while a flurry of deal news in the health-care sector added to positive sentiment. The Dow Jones Industrial Average rose 65.12 points, or
0.40%, at 16,514.37. The S&P 500 gained 7.66 points, or 0.41%, at 1,879.55. The Nasdaq Composite added 39.91 points, or 0.97%, at 4,161.46.

Gilead Sciences Inc. (GILD) reported late Tuesday its first-quarter net income rose to $2.23 billion, or $1.33 per diluted share, from $722.2 million, or 43 cents per diluted share, a year earlier. Revenue rose to $5 billion from $2.53 billion.

AT&T Inc. (T) on Tuesday reported a first-quarter profit of $3.65 billion, or 70 cents a share, compared with earnings of $3.7 billion, or 67 cents a share, in the same period a year ago. Revenue rose 3.6% to $32.5 billion. Excluding one-time items, AT&T earned 71 cents a share.