AP News

Stocks higher on 3Q profits; Mattel jumps


Stocks are rising on Wall Street after several big-name U.S. companies posted strong results.

It was the second day of broad gains following a down week last week. Investors had been worried that third-quarter corporate earnings would be weak, but so far many of them are coming in better than had been expected.

The Dow Jones industrial average was up 116 points at 13,540 at midday Tuesday.

The Standard & Poor's 500 index rose 13 points to 1,453, and the Nasdaq composite rose 29 to 3,093.

Mattel jumped 3.9 percent after reporting that brisk sales of American Girl dolls and Fisher-Price toys sent the company's profit well above analysts' forecasts.

Johnson & Johnson rose 1 percent after its revenues came in ahead of Wall Street's estimates.


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