Stocks open higher on Wall Street; Mattel jumps

Stocks are opening higher on Wall Street Tuesday after several big-name U.S. companies posted strong results for the third quarter.

The Dow Jones industrial average rose 90 points to 13,515 in the first half-hour of trading.

The Standard & Poor's 500 index rose nine points to 1,449 and the Nasdaq composite rose 13 to 3,077.

The gains were broad. All 10 industry groups in the S&P 500 index rose, and four stocks rose for every one that fell on the New York Stock Exchange.

Toy maker Mattel jumped 4 percent after reporting that brisk sales of American Girl dolls and Fisher-Price toys sent the company's profit well above analysts' forecasts. The stock was up $1.35 to $36.77.

Johnson & Johnson rose $1.12 to $69.72 after its revenues came in ahead of Wall Street's forecasts. IBM, CSX and Intel report after the bell.

Among other stocks making big moves:

Citigroup's stock rose 39 points to $37.05 following the sudden departure of its CEO, Vikram Pandit. Pandit, who steered the bank through the tumultuous years after the 2008 financial crisis is also stepping down from the company's board. He is being replaced by longtime Citi executive Michael Corbat.

A123 Systems, a maker of electric batteries for vehicles, plunged 18 cents to 6 cents after the company it would likely default on its debt and could be headed for a bankruptcy filing. Just two months ago the company got a $450 million lifeline from a Chinese company to stay afloat.

The yield on the benchmark 10-year Treasury note rose to 1.70 percent from 1.67 percent late Monday.

European markets also rose. Benchmark indexes were up 1.5 percent in Germany, 1.6 percent in France and 1 percent in Britain.

The euro rose to $1.31 against the dollar from $1.29 the day before.

Source: http://news.yahoo.com/stocks-open-higher-wall-street-mattel-jumps-134858186--finance.html

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