Stocks move higher as more earnings roll in

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Associated Press

Posted on April 22, 2014 at 11:00 AM

Updated Tuesday, Apr 22 at 11:04 AM

NEW YORK (AP) — Stocks are moving higher as more U.S. companies report solid earnings.

Netflix rose 6 percent after the online video streaming service said its first-quarter earnings soared.

Botox maker Allergan surged 15 percent after Valeant Pharmaceuticals said it has teamed up with activist investor Bill Ackman to make a bid for the company.

The market is headed for its sixth gain in a row, which would be the longest winning streak since September.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to 1,880 as of noon Tuesday.

The Dow Jones industrial average rose 88 points, or 0.5 percent, to 16,537. The Nasdaq composite rose 38 points, or 0.9 percent, to 4,160.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 percent.

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