Stocks Opened Higher; Coca-Cola Profit Beat Estimates

U.S. stocks opened higher on Tuesday as investors assess the latest batch of earnings releases from companies such as Coca-Cola. The Dow Jones Industrial Average lately jumped 85.86 points, or 0.485%, to 17,815.07. The S&P 500 gained 10.78 points, or 0.53%, to 2,057.52. The Nasdaq Composite added 29.38 points, or 0.62%, to 4,755.40.

Coca-Cola Co (KO.N) reported a slightly higher-than-expected profit on Tuesday as sales in North America, its biggest market, rose for the first time in four quarters, offsetting the impact of a stronger dollar on its overseas business. The company said net income attributable to shareholders fell to $770 million, or 17 cents per share, in the quarter from $1.71 billion, or 38 cents per share, a year earlier.

Swiss bank UBS AG posted a slight gain in fourth-quarter profit on Tuesday. Zurich-based UBS said net profit in the quarter rose to 963 million Swiss francs ($1.04 billion), from 917 million francs in the same period a year earlier.

Canon Inc. said Tuesday it plans to fully acquire Axis AB, a Swedish network video solutions provider, in a tender offer worth ¥333.7 billion ($2.8 billion).

Home Depot Inc. said Tuesday that it will hire 80,000 workers for its busy spring selling season, matching last year’s hiring level.

The United States will remain the world’s top source of oil supply growth up to 2020, even
after the recent collapse in prices, the International Energy Agency said, defying
expectations of a more dramatic slowdown in shale growth.

Greece’s government signaled Monday it was prepared to abide by many of the reforms contained
in its current bailout, though the finance minister said about a third of them would be
suspended or reversed.

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