Stocks Open Higher; Yellen Testimony Due

U.S. stocks rose at the open on Wednesday, as earnings season winds down and ahead of congressional testimony
from Federal Reserve Chair Janet Yellen. The Dow Jones industrial average lately rose 64.41 points, or0.39%, to
16,465.43. The S&P 500 gained 6.41 points, or 0.34%, to 1,874.13 and the Nasdaq Composite was off 5.96 points,
or 0.15%, to 4,074.79.

Slower economic growth caused in part by brutal winter weather led to a sharp decline in U.S. productivity in
the first quarter, according to newly released government figures. The productivity of American businesses fell
at a 1.7% annual rate from January through March, the Labor Department said Wednesday.

AOL Inc. (AOL) said Wednesday it earned $9.3 million, or 11 cents a share, in the first quarter, down from $35.9
million, or 32 cents a share, in the same period a year ago, pulled down by restructuring charges. Adjusted EPS
was 34 cents a share. Revenue grew 8% to $583.3 million, buoyed by growth in global advertising.

HSBC Holding PLC on Wednesday reported a fall in first-quarter net profit to $5.2 billion, compared with a $6.4
billion profit in the same period last year, as the bank continues to drive through a long running cost cutting
plan. The London-based bank said revenue fell to $15.88 billon for the three months ended March 31, compared
with $18.42 billion in the year-earlier period.

Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial
public offering (IPO) prospectus filed on Tuesday, the first step in what could be the largest technology debut
in history.