Stocks Opened Slightly Higher; Amazon Soared

U.S. stocks opened slightly higher on Friday, after three straight days of declines. The Dow Jones Industrial Average lately rose 8.85 points, or 0.05%, to 17,740.77. The S&P 500 was up 0.41 point, or 0.02%, to 2,102.56. The Nasdaq Composite added 16.38 points, or 0.32%, to 5,162.79.

Amazon.com Inc posted per-share earnings of 19 cents, compared to the consensus estimate of a loss of 15 cents a share. Sales of $23.2 billion, up 20% from last year, also topped expectations of $22.4 billion.

AbbVie Inc (ABBV.N) on Friday reported quarterly revenue that missed analysts’ estimates for the first time in six quarters. Revenue rose 11 percent to $5.48 billion for the second quarter ended June 30, but missed the average analyst estimate of $5.62 billion, according to Thomson Reuters I/B/E/S.

The health insurer Anthem said on Friday that it had agreed to acquire its rival Cigna for $48.3 billion in a deal that would further concentrate the United States market to just a few major players.

American Airlines Group Inc expects passenger unit revenue likely will continue to decline until the second half of 2016, although the carrier remains bullish about its future as it posts billion-dollar profits despite this.