Stocks Little Changed after Productivity Data

U.S. stocks were little changed in the early trading on Tuesday, after data showed productivity of businesses and workers fell in the first quarter but by less than initially reported. The Dow Jones Industrial Average lately rose 61.71 points, or 0.34%, to 17,982.04. The S&P 500 gained 4.00 points, or 0.19%, to 2,113.41. The Nasdaq Composite was up 3.90 points, or 0.08%, to 4,972.61.

American workers were less productive again in the January-March quarter. The Labor Department said Tuesday that productivity declined at an annual rate of 0.6 percent in the first quarter after a 1.7 percent drop in the fourth quarter.

Valeant Pharmaceuticals International Inc. cut its 2016 profit forecast as new Chief Executive Officer Joseph Papa starts his attempt to turn around the embattled drugmaker. Earnings will be $6.60 to $7 a share, excluding some items, the company said in a statement Tuesday.

Verizon Communications Inc. on Monday planned to submit a second-round bid of around $3 billion for Yahoo Inc.’s core internet business, a person familiar with the matter said.