US stocks higher in midday trading; General Electric soars on deal news

MarketsAssociated Press

U.S. stocks are edging higher in midday trading as investor look over the latest corporate earnings.

General Electric soared 8 percent Friday, the most in the Dow Jones industrial average, after the company said it would sell most of its financial services arm and focus on its industrial businesses.

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The Dow was up 75 points, or 0.4 percent, at 18,034 as of 11:55 a.m. Eastern time.

The Standard & Poor's 500 index rose eight points, or 0.4 percent, to 2,099. The Nasdaq composite increased 15 points, or 0.3 percent, to 4,989.

AngioDynamics sank 9 percent after the medical device maker posted disappointing results in the fiscal third quarter and lowered its expectations for the year.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.94 percent.