U.S. Stocks Advance on Investor Optimism Over Earnings
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U.S. stocks rose as investors speculated first-quarter earnings would help equities rebound from their biggest weekly decline of the year.
Alcoa Inc. rose 1.8 percent in regular trading, before reporting first-quarter results that disappointed investors after the market close. Advanced Micro Devices Inc. rose the most in the S&P 500 after Microsoft Corp. was said to use AMD chips in its next Xbox game console. BioCryst Pharmaceuticals Inc. surged 13 percent as China expedited the approval of its anti-influenza drug Peramivir. Lufkin Industries Inc. jumped 38 percent as General Electric Co. agreed to buy the company.