Stocks Opened Mixed amid Mixed Earnings Results

Stocks edged up at open on Tuesday as investors digested a deluge of corporate earnings and continued to monitor trade developments. The Dow Jones Industrial Average lately fell 9.79 points, or 0.04%, to 26,817.85. The S&P 500 added roughly 3.77 points, or 0.13%, to 3,010.49. The Nasdaq Composite advanced 14.11 points, or 0.17%, to 8,177.10. T

Crude oil futures rose on Tuesday, as traders await fresh updates on weekly U.S stockpiles. West Texas Intermediate crude for November delivery gained 45 cents, or 0.8%, at $53.96 a barrel. Brent crude for December added 43 cents, or 0.7%, to $59.39 a barrel.

McDonald’s (MCD) missed expectations on the top and bottom lines in the third quarter, the company reported on Tuesday. The company reported earnings per share of $2.11 and sales of $5.4 billion. Same-store sales grew 5.9% globally in the third quarter. Sales in the U.S. grew by 4.8%.

Shares of Biogen Inc. (BIIB) soared 40.5% on heavy volume toward a record gain in premarket trading Tuesday, after the biotechnology company said it will pursue FDA approval of its Alzheimer’s treatment aducanumab after upbeat trial results and reported a third-quarter profit that was well above expectations. Net income rose to $1.55 billion, or $8.39 a share, from $1.44 billion, or $7.15 a share, in the year-ago period.

Procter & Gamble Co. (PG) reported net income totaled $3.59 billion, or $1.36 per share, up from $3.20 billion, or $1.22 per share, last year. Sales of $17.80 billion were up from $16.69 billion for the previous period.

United Technologies Corp. (UTX) reported net income of $1.148 billion, or $1.33 a share, in the third quarter, down from $1.238 billion, or $1.54 a share, in the year-earlier period. Sales rose to $19.496 billion from $16.510 billion.

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