U.S. stocks gain on strong earnings; Dow taps new record high

Quotes & News:
11:41 am ET Oct 12, 2006

DJIA

11,929

+77.72
________
S&P

1,358

+8.32
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NASDAQ

2,325

+17.45
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10Yr

4.77%

-0.010
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U.S. stocks gain on strong earnings; Dow taps new record high

NEW YORK - U.S. stocks rallied Thursday, with the Dow Jones Industrial
Average tapping a new all-time high, after a string of upbeat earnings
reports led by McDonald's Corp, Costco Wholesale Corp. and Yum Brands.
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Economic Report: Trade gap sets new record in August

WASHINGTON -- The U.S. trade gap of goods and services set a new record
high in August, driven up once again by a record price of crude oil, a
government report showed Thursday.
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McDonald's sees 17% jump in third-quarter profit

NEW YORK -- McDonald's Corp. on Thursday forecast a 17% increase in
third-quarter earnings per share, better than Wall Street expected, and
said September same-store sales rose 7.7%, boosted by strength in
breakfast and new Snack Wraps.
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PepsiCo profit vaults 71%; costs rise too

NEW YORK -- PepsiCo said Thursday third-quarter profit rose nearly 71%,
helped by strength in its international business, non-carbonated drinks
and salty snacks, but operating margins were squeezed by increased
spending and higher supply chain costs. ______________

AT&T-BellSouth merger is approved by Justice Dept.

WASHINGTON -- The U.S. Justice Department on Wednesday approved AT&T
Inc's acquisition of BellSouth Corp., saying the merger is likely to
benefit consumers.