Markets Right Now: US stocks edge higher in midday trade

NEW YORK – The latest on developments in financial markets (All times local):

11:45 a.m.

Stocks are edging higher in midday trading as gains by technology and consumer-focused companies outweigh losses in the banking and energy sectors.

In earnings news, Tyson Foods gained 4.8 per cent Monday after issuing an upbeat forecast.

The price of oil fell 1.4 per cent, sending energy companies lower. Anadarko Petroleum lost 1.1 per cent.

Aviation electronics company Rockwell Collins climbed 3.7 per cent after Reuters reported that rival United Technologies made an offer to buy it.

Medical device company NxStage Medical jumped 28 per cent after it agreed to be bought by Fresenius Medical Care.

The Standard & Poor’s 500 index rose 1 point, or 0.1 per cent, to 2,478.

The Dow Jones industrial average edged up 12 points, less than 0.1 per cent, to 22,103. The Nasdaq rose 27 points, or 0.4 per cent, to 6,378.

___

9:35 a.m.

Stocks are little changed in early trading as technology companies rise and energy companies slip with the price of oil.

Investors continued to concentrate on corporate earnings Monday. Tyson Foods gained 4.8 per cent as its forecasts pleased investors.

Benchmark U.S. crude oil fell 1.4 per cent and Anadarko Petroleum lost 1.1 per cent.

Aviation electronics company Rockwell Collins climbed 5.4 per cent after Reuters reported that rival United Technologies made an offer to buy it.

Medical device company NxStage Medical jumped 28.5 per cent after it agreed to be bought by Fresenius Medical Care for $30 a share, or $1.97 billion.

The Standard & Poor’s 500 index was unchanged at 2,476.

The Dow Jones industrial average lost 7 points to 22,085. The Nasdaq composite rose 10 points, or 0.2 per cent, to 6,362.