Stocks Opened Higher on Upbeat Earnings

U.S. stocks opened higher on Tuesday, as better-than-expected earnings and M&A activity lifted markets for the second straight session. The Dow Jones Industrial Average lately added 13.01 points, or 0.07%, to 18,047.94. The S&P 500 gained 4.76 points, or 0.23%, to 2,105.16. The Nasdaq Composite was up 28.13 points, or 0.56%, to 5,022.73.

United Technologies (UTX) reported on Tuesday a first-quarter net profit that rose to $1.43 billion, or $1.58 a share, from $1.21 billion, or $1.32 a share, in the same period a year ago.

Gannett Co., Inc. (GCI), a diversified media conglomerate, came out with first-quarter 2015 adjusted earnings of 49 cents per share. Gannett’s sales of $1,472.8 million advanced 4.9% from the year-ago figure driven by robust growth at Broadcasting and Digital segments.

Teva Pharmaceutical Industries Ltd. made an unsolicited offer to buy Mylan NV for about $40.1 billion, in the drug industry’s largest takeover attempt this year. Teva, the world’s biggest maker of generic medicines, offered $82 a share in cash and stock for Mylan, according to a statement.

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