US stocks open mostly higher; Coach gains on results

AP News
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Posted: Aug 04, 2015 9:38 AM
US stocks open mostly higher; Coach gains on results

NEW YORK (AP) — Stocks are mostly higher in early trading as investors focus on the latest earnings and deal news.

Drugmaker Baxalta surged 14 percent early Tuesday after Irish drugmaker Shire offered to buy the company for $30 billion.

Luxury bag and accessory maker Coach jumped 6 percent after reporting earnings that beat analysts' estimates, while Allstate sank 7 percent after its results came up short.

The Dow Jones industrial average was up seven points, less than 0.1 percent, to 17,614 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index gained a point to 2,099.

The Nasdaq composite gave up two points to 5,114.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.