U.S. Stocks Rise as Corporate Profits Overshadow Economic Data

U.S. stocks gained a second day as higher-than-estimated corporate profits at companies including Tiffany & Co. overshadowed data showing the economy grew at a slower rate than forecast and jobless claims unexpectedly rose.

Tiffany, the second-largest luxury jewelry retailer, advanced 8.6 percent after raising its full-year earnings forecast as profit beat estimates. NetApp Inc. rallied 6.9 percent as the data-management company forecast earnings that topped projections. Microsoft Corp. rose 2 percent as Greenlight Capital Inc. President David Einhorn called for the company’s board to replace Chief Executive Officer Steve Ballmer, saying the company suffers from “Charlie Brown management.”