Stocks Opened Higher, Set for Weekly Gains

U.S. stocks opened higher on Friday with the main indexes on track to record solid weekly gains. The Dow Jones Industrial Average lately climbed 142.48 points, or 0.80%, to 17,875.23. The S&P 500 added 14.89 points, or 0.72%, to 2,096.13. The Nasdaq Composite was up 29.75 points, or 0.59%, to 5,103.39.

Brent crude oil futures edged higher on Friday but were still trading near three-month lows as the pressure of a persistent supply glut weighed on prices. The front-month Brent crude contract was 25 cents higher at $44.43 a barrel at 1000 GMT. The contract finished just 4 cents higher on Thursday at $44.18.

Sprint Corp. (S) said Friday it has signed a $1.2 billion deal with newly formed Mobile Leasing Solutions LLC for the sale and lease-back of certain leased devices. The company is expecting to net $1.1 billion in cash proceeds from the deal, which it expects to close in the first week of December.

Abercrombie & Fitch Co. showed progress in its efforts to revamp its brand and wean its customers off heavy discounts, helping the teen retailer post a higher quarterly profit. Profit more than doubled to $42.3 million in the three months through Oct. 31, from $18.2 million a year ago.

Foot Locker Inc. said sales at existing stores jumped in its latest quarter soared as the athletic retailer continues to attract customers with its widening selection of merchandise. For the quarter, Foot Locker reported a profit of $80 million, or 57 cents a share, down from $120 million, or 82 cents a share, a year earlier.

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