NEW YORK (CNNMoney)
The Dow, S&P 500, and Nasdaq all rose in morning trading as investors welcomed news from several big companies and news of mergers in the pharmaceutical industry.
It's another good start after U.S. stocks drifted higher Monday, with all three indexes ending the day with modest gains. With earnings season in full swing, investors are looking for strong company results to drive markets higher.
Shares in Netflix (NFLX)soared 7% after the company reported earnings late Tuesday that beat expectations and showed strong subscription growth. It also said it would increase its monthly fee for new customers in some countries later this quarter.
Related: Netflix to increase subscription prices
Motorcycle maker Harley-Davidson (HOG, Fortune 500) was also cruising away in morning trading. It was up over 7% after a strong earnings report this morning.
Outside of earnings, a mega pharmaceutical deal emerged late Monday. Shares in Botox maker Allergan (AGN, Fortune 500)surged 16% after activist investor Bill Ackman (Allergan's largest shareholder) said he approved of Valeant Pharmaceutical (VRX)'s bid to buy the company. Allergan had already gained 6% on Monday.
Related: Valeant bids for Botox-maker Allegran
In other news Tuesday, Comcast (CMCSA, Fortune 500)shares bounced almost 3% after the cable provider reported a 30% jump in profit for the first quarter. The CEO attributed the gains to the Sochi Olympics, which were broadcast via NBC.
Fast food giant McDonald's (MCD, Fortune 500) announced lower sales, especially in the U.S. as the company underperformed expectations. Despite the disappointing report, the stock was trading slightly higher.
Aerospace company Lockheed Martin (LMT, Fortune 500)also reported a year-over-year gain in quarterly income, but shares declined.
Related: Fear & Greed Index still gripped by fear
European markets were mostly up in the afternoon trading session. European pharmaceutical firms GlaxoSmithKline (GLAXF)and Novarti (NVS)s announced a multi-billion dollar deal that will see the firms swap some business units and combine others.
Asian markets ended with mixed results, though the moves both up and down were relatively modest.
First Published: April 22, 2014: 9:57 AM ET
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