Boeing leads Dow average higher in early trading

AP News
Posted: Oct 24, 2012 9:41 AM
Boeing leads Dow average higher in early trading

NEW YORK (AP) — Stocks are opening higher on Wall Street, following a big drop the day before, after big companies including Boeing reported stronger profits.

Boeing was the biggest gainer in the Dow Jones industrial average, rising nearly 2 percent, after saying its full-year profits will be better than expected thanks to a pickup in commercial airplane deliveries.

Shortly after the opening bell Wednesday the Dow was up 36 points at 13,138.

The Standard & Poor's 500 was up six points at 1,419 and the Nasdaq rose 21 points to 3,012.

Facebook jumped $4.26 to $23.76 after its quarterly report late Tuesday reassured investors that the social media site was taking in significant revenues from mobile advertising.

Netflix plunged $8.22 to $60 after cutting its forecast for full-year additions of video streaming subscribers.