US stocks advance as technology, energy sectors gain; Orbitz jumps following Expedia deal

Markets Associated Press

U.S. market indexes are moving higher in midday trading as technology and energy stocks notch gains.

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Traders were encouraged Thursday by stronger earnings at U.S. companies, a big acquisition in the online travel business and news of a cease-fire deal in Ukraine.

The Dow Jones industrial average rose 59 points, 0.3 percent, to 17,922 as of 11:45 a.m. Eastern.

The Standard & Poor's 500 index gained 13 points, or 0.7 percent, to 2,082. The Nasdaq rose 38 points, or 0.8 percent, to 4,839.

Cisco Systems jumped 9 percent after reporting better-than-expected earnings.

Energy stocks advanced as the price of oil rebounded following two days of heavy losses.

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Orbitz soared 21 percent after rival online travel site Expedia said it would buy the company for $1.3 billion. Expedia jumped 16 percent.